Dangote Refinery lowers petrol price by N75/l as oil falls by 5%

By Obas Esiedesa, Abuja
Dangote Petroleum Refinery has reduced the ex-depot price of Premium Motor Spirit (PMS), popularly known as petrol, by six  per cent, or N75 per litre, following a sharp decline in global crude oil prices triggered by easing tensions in the Middle East.
The refinery said in a circular to marketers that the new ex-gantry price has been reduced from N1,250 per litre to N1,175 per litre, effective from midnight on June 16, 2026.
The latest adjustment came as Brent crude, the international benchmark for oil prices, fell by five per cent to $78.87 per barrel yesterday  from $82.72 per barrel on Monday, following an agreement between  the United States and Iran, an...