May 30 (THEWILL) — Dangote Petroleum Refinery has reduced its petrol gantry price from ₦1,275 per litre to ₦1,250 per litre, a development that is expected to reverberate across Nigeria’s downstream petroleum market and potentially trigger further price adjustments at depots nationwide.
The latest reduction, confirmed late Friday by a source at the refinery to Petroleumprice.ng, comes after days of heightened anticipation among fuel marketers and traders, many of whom had delayed purchases in expectation of a downward review in pricing.
Industry observers say the move is likely to influence pricing decisions across private depots and marketing channels, where trading activities had slowed amid uncertainty over the refinery’s next pricing direction.
The adjustment reinforces Dangote Refinery’s growing role as a major price setter in Nigeria’s fuel supply chain.
Checks by Petroleumprice.ng indicate that several depots had already begun adjusting their prices ahead of the refinery’s announcement.
Aiteo and Nipco were selling petrol at ₦1,272 per litre, while Integrated Energy, Ascon Oil and African Terminal were trading around ₦1,274 per litre, slightly below Dangote Refinery’s previous gantry price of ₦1,275 per litre.
The price cut comes amid a decline in global crude oil prices, a factor that has continued to shape expectations in the local market.
As of 6:14 a.m. (WAT) on Saturday, Brent crude was trading at $91.12 per barrel, down 1.70 per cent, while US West Texas Intermediate (WTI) stood at $87.36 per barrel, reflecting a 1.73 percent drop.
The softer crude market has fueled expectations of lower refined product prices, prompting many marketers to adopt a wait-and-see approach throughout the week rather than purchase products at higher rates.
Market analysts believe the latest reduction could ease pressure on downstream supply costs and encourage increased trading activity if sustained.
It also underscores Dangote Refinery’s growing influence on fuel pricing, depot operations and short-term supply dynamics across Nigeria’s petroleum sector.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
