Dangote Petroleum Refinery has reduced the ex-depot price of petrol from N880 to N840 per litre, effective June 30, 2025.
The downward review of the price of the premium commodity was confirmed in an update provided on Monday by a spokesman for the refinery, Chief Tony Chiejina.
Chief Chiejina said the new ex-depot price took effect on Monday, June 30, 2025, about a week after the Lagos-based refinery jacked up the ex-depot price per litre of petrol to N880
The N40 reduction followed a decline in global oil prices, with Brent crude falling by 16 cents (0.24%) to close at $67.61 per barrel after a ceasefire between Israel and Iran eased tensions in the Middle East.
The new ex-depot price took effect on June 30, 2025, and is expected to bring relief to consumers and marketers.
Filling stations with special agreements with Dangote Refinery, such as MRS Oil & Gas, Ardova Plc, and Heyden, were likely to reduce their pump prices to below N900 per litre.
Starting August 15, 2025, Dangote Refinery would commence direct delivery of petrol and diesel to filling stations, industrial facilities, and other high-volume consumers, absorbing over N1.07 trillion annually in fuel distribution costs.
The refinery has procured 4,000 brand-new Compressed Natural Gas (CNG)-powered tankers to enhance fuel distribution capacity across the country ¹ ² ³.
The price reduction is expected to ease inflationary pressures and provide relief to households and businesses grappling with high transportation and production costs.
The initiative is poised to benefit over 42 million Micro, Small, and Medium Enterprises (MSMEs) by reducing energy costs and enhancing profitability.
