Dangote Refinery has reduced its petrol price once again, the reduction follows a fresh drop in global crude oil prices, falling oil prices continue to pressure refiners into cutting pump costs.
This Dangote Refinery fuel price cut brings petrol down to N1,325 per litre, that marks a N25 drop from the previous price of N1,350.
A market survey by Daily Post confirmed the new pricing on Monday, the refinery adjusted its gantry price shortly after global oil rates dropped.
Brent and West Texas Intermediate crude both fell sharply during trading, with prices dropped by more than three percent within a short period.
Brent crude settled at $100.50 per barrel following the decline, WTI crude also dropped to $92.43 per barrel around the same time.
This Dangote Refinery fuel price cut comes after weeks of rising costs, petrol prices had increased steadily over the past two weeks.
That earlier rise followed crude oil climbing above $104 per barrel, refiners had adjusted prices upward to match the global market shift.
Now, with crude prices falling again, the trend appears to be reversing, analysts expect this shift to influence pump prices across Nigeria.
The latest cut may offer some relief to everyday fuel consumers, lower gantry prices often trickle down to reduced costs at filling stations.
Industry watchers continue monitoring global oil trends closely, any further changes in crude prices could trigger additional adjustments soon.
For now, Nigerians can expect slightly cheaper fuel following this latest development.
