The Dangote Petroleum Refinery has rolled back its recent petrol price increase, reducing the ex-gantry cost of Premium Motor Spirit (PMS) to ₦1,200 per litre—a ₦75 per litre drop from the previous ₦1,275.
The adjustment follows a sharp decline in global crude oil prices. Brent crude recently fell to $95.05 per barrel, a 13% drop, while West Texas Intermediate (WTI) crude closed at $97.18 per barrel, down nearly 14%. Analysts say the fall has eased pressure on refined petroleum pricing worldwide.
Industry observers link the decrease to U.S. President Donald Trump’s announcement of a conditional two-week ceasefire with Iran, which has impacted global oil markets.
PetroleumPriceNG reports that Automotive Gas Oil (diesel) may also see a price reduction, though official confirmation is pending. Retailers are expected to revise pump prices in the coming days as the lower gantry cost filters through the supply chain.
The move is being welcomed by motorists and transport operators, providing relief amid ongoing volatility in Nigeria’s downstream petroleum sector.
