Dangote Petroleum Refinery has lowered the price of Premium Motor Spirit, popularly known as petrol, following another decline in the international price of crude oil.
The refinery reduced its gantry price from N1,350 to N1,325 per litre, representing a N25 reduction in the price of petrol supplied from its facility.
The latest adjustment was recorded on Monday, September 21, 2026, as crude prices fell by more than three per cent amid developments in the international oil market.
Brent crude was trading at about $100.50 per barrel, while West Texas Intermediate stood at approximately $92.43 per barrel at the time of the report.
The reduction came barely two weeks after petrol prices had risen following a surge in crude oil prices, which had climbed above $104 per barrel.
The latest cut could increase pressure on petrol marketers and other refiners to review their own prices, potentially leading to lower pump prices for consumers if the decline in crude prices persists.
The 700,000-barrel-per-day Dangote refinery has increasingly adjusted its petrol pricing in response to movements in the global crude oil market, with the latest reduction coming after the recent upward adjustments.
The development also highlights the connection between international crude prices and the cost of refined petroleum products in Nigeria, as lower crude prices reduce one of the major cost components for refiners.
