Dangote Refinery Slashes Petrol Price to N699 per Litre

The Dangote oil refinery has reduced the price of its ex-depot gasoline from 828 N to 699 N per liter, a significant reduction ahead of the peak holiday travel season.

The refinery confirmed that the new price, reflecting a 129 N reduction, aims to ease transportation and logistics pressures as millions of Nigerians prepare to travel for Christmas and New Year’s. This adjustment is one of the largest price reductions the refinery has announced this year.

Industry analysts say the move strengthens Dangote’s competitive position in the domestic fuel market and offers relief at a time when many households are facing increasing spending pressures. Fuel marketers also noted that the reduction is likely to impact retail prices at pumps across the country as distribution costs stabilize.

The lower ex-depot rate is expected to help reduce transportation costs, especially for interstate trips, which typically increase during the holiday season. It also aligns with broader trends in the downstream sector, where operators have recently implemented moderate downward adjustments in response to evolving supply conditions. Experts believe the refinery’s decision reflects a strategy to expand its market share and ensure stable supply heading into the busy end-of-year period. Drivers and trucking operators are expected to see immediate benefits from the new pricing structure.