According to DAILY POST, the Dangote Refinery has implemented a series of reductions in its ex-depot price for premium motor spirit, cutting costs by N175 per litre over the previous three weeks.
As of Wednesday, evidence indicates that the refinery has adjusted its fuel pricing four times, bringing the rate down to N1,075 per litre compared to the N1,250 recorded on June 16, 2026. This represents a 14 per cent decrease in fuel pricing throughout the observation period. During these three weeks, local petrol pump prices have also stabilized between N1,155 and N1,299 per litre.
Meanwhile, global oil markets saw an increase on July 8, 2026, with Brent crude reaching $78.19 per barrel and West Texas Intermediate rising to $73.70 per barrel. These fluctuations coincide with the resumption of airstrikes in the Middle East, following an announcement by United States President Donald Trump that a ceasefire in the Gulf region had ended after nearly five months.
