BREAKING; Petrol price per litre drops as Dangote refinery makes new announcements
BREAKING; Petrol price per litre drops as Dangote refinery makes new announcements
Dangote Refinery has raised its petrol price to N865 per litre, marking a N50 increase from its previous rate of N815.
The new price adjustment follows the suspension of the Naira-for-Crude agreement with the federal government.
The refinery, with a production capacity of 650,000 barrels per day, has already begun supplying oil marketers, including MRS, with the newly priced petrol.
This increase comes after a series of price reductions earlier this year, including the refinery’s third reduction in 2025, when it previously cut the price to N815 per litre.
Despite the recent decline in global crude oil prices, which fell to $59 per barrel, experts indicate that the cost of refining remains elevated.
The high price of importing crude oil in dollars has contributed to maintaining these high refining costs, which have offset the potential benefits from cheaper crude.
