A shift has taken place in Nigeria’s fuel market, and Dangote Refinery leads this change.
On Thursday, the refinery cut its ex-gantry petrol price to ₦1,200 per litre, and it also reduced its coastal price to ₦1,153 per litre.
Global Oil Pressures
These figures reflect wider adjustments in a volatile and changing fuel market.
Only days earlier, petrol prices had risen steadily, and this pressure affected consumers and businesses.
Prices increased to ₦1,245 per litre on March 20.
Then they climbed again to ₦1,275 per litre the following day.
However, the latest cut shows a ₦75 drop from the recent peak.
This move suggests that the refinery responds deliberately to changing market conditions, rather than setting prices randomly.
Meanwhile, global oil trends continue to drive these local pricing decisions.
In particular, tensions in the Middle East influence oil supply expectations worldwide, and Brent crude has hovered around $100 per barrel in recent trading.
As a result, this level reflects both strong demand and concerns about supply stability.
Dangote Local Pricing Adjustments
Furthermore, the refinery links its decision directly to these global market conditions.
Therefore, pricing now depends on international events as well as local factors.
Dangote Refinery also plays a growing role in Africa’s fuel supply network, and it now operates at a capacity of 650,000 barrels per day.
Consequently, this scale gives its pricing decisions wider regional significance.
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In addition, the coastal price reduction may affect distribution costs across supply chains.
Fuel moves from coastal terminals to depots and then to retail stations, and any adjustment at the source influences final consumer prices.
Regional Supply Impact
At the same time, demand for fuel continues to shift across the African region, and some countries now seek more reliable fuel supply sources.
This demand rises as global tensions disrupt supply routes.
Overall, the refinery acts in response to an uncertain market, and prices continue to adjust to both global and domestic developments.
Ultimately, the story of fuel pricing in Nigeria remains dynamic and evolving.
