Dangote Petroleum Refinery and Petrochemicals has lowered the price of petrol at its loading gantry to N1,200 per litre, while the coastal supply price has been reduced to N1,153 per litre.

The adjustment was confirmed in a statement by the refinery’s spokesperson, Anthony Chijiena, on Thursday.

The 650,000 barrels-per-day facility reduced its petrol price by N85, bringing it down from N1,285 per litre. This marks a shift in the refinery’s recent pricing trend, which had seen multiple increases since early March amid heightened geopolitical tensions in the Middle East that pushed global crude prices higher.

The latest review signals a downward change in the refinery’s pricing structure and is expected to affect fuel supply costs across the distribution chain, including depots and filling stations.

Industry watchers say the reduction could ease pressure on marketers and retailers, potentially influencing pump prices if the adjustment is sustained.

The development comes at a time when stakeholders have been calling for local price relief following fluctuations in international oil markets and previous increases in domestic petrol costs.