The pump price of petrol is expected to drop below N900 per litre as the Dangote refinery reduces the ex-depot price of the product from N850 to N820 per litre on Tuesday. A statement signed by the Dangote Group Chief Branding and Communications Officer, Anthony Chiejina, disclosed the price cut on Tuesday. “Dangote Petroleum Refinery has announced a reduction in the ex-depot (gantry) price of Premium Motor Spirit, commonly referred to as petrol, by N30 from N850 to N820 per litre, effective from 12th August 2025. “As part of our unwavering commitment to national development, Dangote Petroleum Refinery assures the public of a consistent and uninterrupted supply of petroleum products,” the statement read partly. The PUNCH reported earlier that filling stations raised their pump prices to N900 and above despite a decline in crude prices over the weekend. Retail outlets owned by the Nigerian National Petroleum Company Limited have raised petrol prices to N900 per litre in Lagos and Ogun State, even as crude prices dropped from nearly $69 to $66 per barrel.
Punch