Breaking: Dangote Refinery Reduces Fuel Price

Dangote refinery has reduced the fuel price.

NewsRain Nigeria reports that Dangote Petroleum Refinery & Petrochemicals has reduced its gantry price for petrol to N1,200 per litre and its coastal price to N1,153 per litre, a move that comes amid ongoing tensions in the Middle East that continue to influence global oil markets.

According to the spokesperson for the Dangote Group, Anthony Chiejina, the price adjustment represents a downward review in the refinery’s pricing template and comes at a time of heightened uncertainty in the global oil market driven by geopolitical tensions in the Middle East.

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“Dangote Petroleum Refinery & Petrochemicals has reduced its gantry price for petrol to N1,200 per litre and its coastal price to N1,153 per litre, a move that comes amid ongoing tensions in the Middle East that continue to influence global oil markets.

“The adjustment marks a downward review in the refinery’s pricing structure and is expected to influence fuel supply costs across distribution channels, including depots and retail outlets,” Chiejina said.

With the new N1,200 per litre rate, marketers are expected to recalibrate their landing costs, especially those sourcing locally instead of importing.

Similarly, the coastal price of N1,153 per litre is expected to affect marine deliveries to coastal depots, providing an alternative supply route for distributors operating in southern corridors.

More details later…