The Dangote Refinery has reduced the price of petrol at its gantry by N100 per litre following a drop in global crude oil prices.

The refinery lowered the petrol loading price from N1,175 to N1,075 per litre on Tuesday, according to officials who confirmed the adjustment.
Petrol distributed through coastal supply channels will now sell for N1,050 per litre, reflecting the additional cost associated with marine transportation.

Diesel prices were also reduced. The refinery cut the gantry price of diesel to N1,430 per litre, a N190 drop from the previous price of N1,620 per litre.
The adjustment comes as global oil prices declined sharply. Brent crude, which had traded above $100 per barrel earlier, fell to about $89 per barrel.

Industry data also indicated that prices dropped from around $119 per barrel to about $87 per barrel within a short period, highlighting volatility in the international oil market.

The refinery linked the pricing changes to fluctuations in crude oil prices influenced by global tensions, including the ongoing conflict involving the United States and Iran.