Dangote Refinery Cuts Petrol, Diesel Prices Again
Dangote Refinery has announced fresh cuts to petrol and diesel ex-depot prices, reducing costs for marketers and consumers. The company says the move supports domestic refining, fuel supply stability and broader economic recovery, although many filling stations have yet to adjust pump prices.
Dangote Refinery has announced another reduction in fuel prices, lowering the ex-depot costs of petrol and diesel to support consumers and businesses.
Dangote Petroleum Refinery & Petrochemicals has reduced the ex-depot prices of petrol and diesel, marking a fresh move aimed at easing costs for consumers and strengthening fuel supply across Nigeria. Under the revised pricing structure, the ex-depot price of petrol price reduction now stands at N1,250 per litre, down from N1,275 per litre, while diesel has been reduced to N1,700 per litre from N1,800 per litre.
According to the company, the adjustment forms part of its broader strategy to make petroleum products more affordable, improve supply efficiency and support economic activities nationwide. The refinery said the decision reflects its commitment to expanding domestic refining capacity and providing relief to households and businesses that depend heavily on fuel for transportation, electricity generation and industrial operations.
The company noted that since beginning operations, the 650,000 barrels-per-day Dangote Refinery has steadily increased supplies to the local market, helping to reduce Nigeria’s reliance on imported refined petroleum products. Despite the latest petrol price reduction, many filling stations have yet to reflect the lower rates, with pump prices still exceeding N1,350 per litre in several parts of the country due to distribution costs and marketer pricing.
The refinery also linked its growing operations to Nigeria’s improving economic outlook. It highlighted the recent decision by S&P Global Ratings to upgrade Nigeria’s long-term foreign and local currency sovereign credit ratings from “B-” to “B”. According to the company, the ratings agency cited stronger economic growth, improved external balances, higher crude oil production and expanding domestic refining capacity as key factors behind the upgrade.
Dangote Refinery stated that increased local refining and the continued petrol price reduction trend could help stabilise fuel supplies, ease pressure on foreign exchange demand and support Nigeria’s economic recovery efforts.
Do you think further reductions in refinery prices will eventually lead to lower fuel costs at filling stations nationwide?
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