Following Dangote Refinery’s gantry gasoline decrease to N1,200 per liter, petrol prices are anticipated to drop nationally starting on Friday, providing Nigerians with some respite.
In order to outbid petroleum station owners’ prices, which ranged from N1,240 to N1,255 per liter, Dangote Refinery dropped its petrol price on Thursday by N85, or 6.6%, to N1,200 per liter from N1,285.
The change occurs as West Texas Intermediate and Brent crude oil prices dropped to less than $100 per barrel throughout a portion of the week before closing at $107 and $93 per barrel on Friday morning.
According to reports, the $20 billion refinery’s most recent evaluation of gas prices coincides with demands that the local refinery lower its gasoline costs in response to declining crude oil prices.
At major gas stations around the country, the most recent change in petrol prices could result in a drop in retail fuel prices of between N50 and N70 per liter, to roughly N1,311 and N1,291.
Chinedu Ukadike, a spokeswoman for the Independent Petroleum Marketers Association of Nigeria, affirmed that members who purchase gasoline products from the Dangote Refinery would have their pricing adjusted.
“Our members will need to adapt to a new retail price,” Ukadike stated.
MRS filling station managers said on Thursday that they would wait to change their pricing until they received the new gasoline price template circular.
“We would wait for a new price template from the head office in Lagos,” an anonymous manager at the MRS filling station in Abuja stated.
Nigeria, like other economies around the world, has been negatively impacted by the surge in crude oil prices over the past 26 days as a result of supply interruptions brought on by the escalation of the Iran-United States-Israel conflict.
From between N875 and N900 per liter in Abuja in March 2026, retail fuel prices in Nigeria have increased by more than 50% to N1361 and N1370 per liter.
The Dangote Refinery has increased the price of gasoline at least five times, which has caused fuel prices to rise nationwide.
