Nigerians will begin to experience respite as petrol price is expected to drop across filling stations nationwide from Friday after Dangote Refinery’s gantry fuel reduction to N1,200 per liter.
On Thursday, Dangote Refinery slashed its petrol price by N85, or 6.6 percent, to N1,200 per liter from N1,285 to edge out petroleum depot owners’ prices, which stood between N1,240 and N1,255 per liter.
The development comes as crude oil prices, Brent and West Texas Intermediate, cooled off in part of the week to below $100 per barrel before settling at $107 and $93 per barrel on Friday morning.
News360 Info reports that the $20 billion refinery’s latest petrol price review comes amid calls for the local refinery to cut its fuel price as a result of easing crude oil prices.
The latest petrol price adjustment would potentially trigger a retail fuel price drop of between N50 and N70 per liter to around N1,311 and N1,291 at major filling stations nationwide.
The spokesperson for the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike, confirmed that members getting their petrol products from the Dangote Refinery would readjust their prices.
“Our member will have to adjust to a new retail price,” Ukadike told DAILY POST.
Filling station managers at MRS,on Thursday that they would await the new fuel price template circular to adjust their prices.
“We would await a fresh price template from the head office in Lagos,” a manager at the MRS filling station in Abuja, who preferred anonymity.
In the last 26 days, Nigeria, like other global economies, has suffered from the ripple effect of the crude oil price spike due to supply disruptions caused by the Iran-United States-Israel war escalation.
In Nigeria, retail fuel prices have skyrocketed by above 50 percent to N1361 and N1370 per liter from around N875 and N900 per liter in Abuja in March 2026.
Dangote Refinery has raised its petrol price for at least five times, triggering nationwide fuel price increment.
