Dangote Refinery Cuts Petrol Prices
Written by Blessing Ajibuwa on July 9, 2025
Dangote Refinery and other major fuel distributors in Nigeria have reduced petrol prices following a decline in global crude oil prices. The price drop reflects improved global oil supply stability, benefiting Nigerian consumers.
*Price Details:*
– *New Prices*: Petrol is now sold at N875 to N890 per litre in Lagos and Ogun States.
– *Previous Prices*: Prices ranged from N915 to N955 per litre, with some northern regions paying up to N980.
*Reasons for the Price Drop:*
– *Global Crude Oil Prices*: A decline in global crude oil prices below $70 per barrel led to the price reduction.
– *Improved Oil Supply Stability*: Eased tensions between Israel and Iran contributed to the improved oil supply stability.
The price reduction is expected to provide relief to consumers and businesses, potentially boosting economic activity in Nigeria.
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