The Dangote Petroleum Refinery and Petrochemicals has reduced its petrol price, lowering its gantry rate to ₦1,200 per litre and coastal price to ₦1,153 per litre.

The development was announced in a statement by the company’s spokesperson, Anthony Chijiena, on Thursday. According to the firm, the 650,000-barrel-per-day refinery slashed its petrol price by ₦85, down from ₦1,285 per litre.

The latest reduction follows a series of at least five price increases recorded since early March, driven largely by tensions in the Middle East affecting global oil markets.

Industry observers say the price adjustment signals a downward review in the refinery’s pricing structure and is expected to impact fuel supply costs across depots and retail outlets nationwide.