Dangote Petroleum Refinery has reduced the ex-depot price of petrol from N880 to N840 per litre, effective Monday, June 30, 2025. The announcement was made via an update on the company’s official X (formerly Twitter) account on Tuesday.
This adjustment comes about a week after the Lagos-based refinery raised the ex-depot price to N880 per litre. The N40 price cut followed a drop in global oil prices after tensions in the Middle East de-escalated.
A ceasefire between Israel and Iran led to a decline in Brent crude, which fell by 16 cents (0.24%) to close at $67.61 per barrel, down from around $80, following earlier U.S. airstrikes on Iranian nuclear sites.
