The Dangote Refinery has implemented another price cut for its petrol, lowering the gantry price to N1,125 per litre, down from the previous N1,175. This adjustment represents a decrease of N50 per litre.
Anthony Chijiena, the spokesperson for the Dangote Group, verified this update on Thursday. In addition to the retail price shift, the refinery has also lowered its coastal supply cost from N1,495,215 to N1,428,165 per metric tonne.
These changes follow a notable decline in global crude oil prices, which have fallen to between $69 and $73 per barrel, mirroring costs seen prior to the Middle East conflict. With this latest move, the refinery has decreased its prices by a total of N125 per litre over the past two weeks, following a previous reduction on June 16.
While current retail prices in Abuja and surrounding areas range from N1,241 to N1,305 per litre, many citizens are calling for a return to the pre-war price range of N800 to N900 per litre.
