Dangote Slashes Petrol Price to ₦1,200/Litre After Oil Price Plunge
Dangote Petroleum Refinery has reversed its recent price hike. It cut the ex-gantry cost of Premium Motor Spirit by ₦75, bringing it back to ₦1,200 per litre hours after raising it to ₦1,275. The company says it has not implemented any new pricing and remains focused on steady fuel supply across Nigeria and the wider African market. This quick reversal follows a significant fall in global crude prices. Brent crude dropped to $95.05 per barrel and West Texas Intermediate closed at $97.18. Analysts link the slide to a recent ceasefire announcement involving the US and Iran, which eased fears of supply disruptions. Consumers have welcomed the move and look forward to more competitive prices when other refineries, such as BUA, ramp up production.
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