Fuel Price Relief! Dangote Refinery Slashes Petrol Price to N840/Litre
In a move set to bring significant relief to millions of Nigerians, the Dangote Petroleum Refinery has announced a further reduction in the ex-depot price of Premium Motor Spirit (PMS), popularly known as petrol. Effective June 30, 2025, the price has dropped from N880 to N840 per litre.
This marks another price adjustment by the refinery, following an increase in mid-June that saw prices rise to N880 due to surging global crude oil prices, partly fueled by Middle East tensions. However, with those tensions now easing and a slight dip in crude prices, Dangote Refinery has quickly responded by passing on the savings to marketers.
What This Means for Nigerians
This crucial reduction is expected to trigger a domino effect at the pumps. Major oil marketers with agreements to procure fuel from Dangote, including MRS Oil & Gas, Ardova Plc, and Heyden, are now anticipated to lower their retail pump prices. This could lead to a nationwide reduction in fuel costs, directly easing the financial burden on citizens and potentially contributing to a much-needed decrease in inflation.
Dangote's Ambitious Distribution Plan
The Dangote Refinery has reiterated that this price cut is part of its commitment to bolstering the Nigerian economy, improving energy efficiency, and promoting sustainability. In an even more ambitious move, the company is gearing up for a nationwide distribution rollout slated for August 15. To achieve this, it has acquired a massive fleet of 4,000 Compressed Natural Gas (CNG)-powered tankers. This initiative aims to directly deliver petrol and diesel to filling stations and large-volume consumers across Nigeria, promising to eliminate logistical costs and significantly enhance fuel accessibility.
Fuel Price War Heats Up!
This latest reduction from Dangote comes hot on the heels of the Nigerian National Petroleum Company (NNPC) Limited increasing its pump prices at some of its retail outlets. The dynamic competition between Nigeria's domestic refining capacity and traditional importers, alongside ever-shifting global market dynamics, continues to be a pivotal factor in the nation's fuel pricing landscape.
For deeper insights into the ongoing price competition, you can refer to reports on the "Fuel Price War: Dangote, NNPCL Battle for Market Dominance as Price Drop."
