Stephen Okeke
Motorists and fuel marketers have received fresh relief
after the Dangote Refinery cut its ex-depot price of petrol by N175 per litre within just three
weeks.
Checks carried out on Wednesday showed that the refinery has
reduced its premium motor spirit (PMS) price four times since June 16, 2026, bringing the ex-depot
cost down from N1,250 to N1,075 per litre.
The latest adjustment represents a 14 per cent drop over the period, making it one of the most
significant price reductions seen in recent weeks.
The lower ex-depot price has also started reflecting at
filling stations across the country, with pump prices now selling within the
range of N1,155 to N1,299 per litre, depending on the
location and marketer.
The reduction comes at a time when global crude oil prices
are moving in the opposite direction. On Wednesday, Brent crude traded at about $78.19 per barrel, while West
Texas Intermediate (WTI) stood at around $73.70 per barrel.
The rise in international oil prices follows renewed
tensions in the Middle East after military airstrikes resumed. The escalation
came shortly after US President Donald
Trump announced the end of a ceasefire that had lasted for nearly five
months during the Gulf crisis.
Despite the global pressure on crude prices, Dangote
Refinery has continued to lower its petrol price, offering some relief to
consumers and businesses.
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