Dangote Refinery cuts petrol price by N75/litre as crude oil drops

By Obas Esiedesa, Abuja
Dangote Petroleum Refinery has reduced the ex-depot price of Premium Motor Spirit (PMS), popularly known as petrol, by 6 per cent, or N75 per litre, following a sharp decline in global crude oil prices driven by easing tensions in the Middle East.
In a circular issued to marketers, the refinery announced that the new ex-gantry price had been lowered from N1,250 per litre to N1,175 per litre, effective from midnight on June 16, 2026.
The latest adjustment followed a drop in Brent crude, the international oil benchmark, which fell by five per cent to $78.87 per barrel on Tuesday from $82.72 per barrel on Monday. The decline came after an agreement involving the...