By Ayo Kehinde
The Dangote petroleum refinery has reduced its ex-depot (gantry) price of petrol to N840 per litre.
This is coming just a week after the refinery jacked up the ex-depot price per litre of petrol to N880. The N40 reduction followed a drop in oil prices on Monday, as the two-week Middle East conflict between Israel and Iran eased.
The ceasefire between the two countries saw Brent crude fall 16 cents, or 0.24%, to close at $67.61 a barrel from around $80 a barrel after the United States bombed Iran’s nuclear facilities.
A statement signed on Monday by the company’s Group Chief Branding and Communications Officer, Anthony Chiejina, said the new ex-depot price took effect on Monday, June 30, 2025,
Fuel stations like MRS Oil & Gas, Ardova Plc, Heyden, and others with special agreements with the Dangote Refinery are expected to reduce their pump price to below N900 to reflect the marginal reduction in the ex-depot price.
