The cost of petrol at filling stations is set to decline, with Dangote Refinery lowering its ex-depot price from N850 to N820 per litre starting August 12, 2025. This move is anticipated to bring pump prices down to around N865 per litre in Lagos and N875 in Ogun State, reversing recent hikes that saw prices climb above N900 despite falling crude oil prices.

Anthony Chiejina, Chief Branding and Communications Officer at Dangote Group, confirmed the reduction, emphasizing the refinery’s commitment to ensuring steady and reliable petroleum product supply across Nigeria.

In recent days, petrol prices at retail outlets, including those operated by the Nigerian National Petroleum Company and Dangote’s partners like Ardova and Heyden, surged past the N900 mark, even as global crude oil prices dropped from nearly $69 to $66 per barrel. This price discrepancy has been visible along major routes such as the Lagos-Ibadan Expressway.

Petroleum marketers had anticipated a price adjustment this week, according to Joseph Obele, National Publicity Secretary of the Petroleum Products Retail Outlet Owners Association of Nigeria.

Additionally, the Dangote Refinery announced plans to begin rolling out 4,000 fuel distribution trucks powered by Compressed Natural Gas (CNG) starting August 15, 2025. This initiative reflects the refinery’s push for operational efficiency and greener energy solutions in its logistics operations nationwide.