By Khadijah Shehu Abdulkareem
Dangote Petroleum Refinery has reduced the ex-depot price per litre of petrol from ₦880 to ₦840.
The downward review of the price of the premium commodity was confirmed in an update provided on Monday by a spokesman for the refinery, Tony Chiejina.
Chiejina said the new ex-depot price took effect on Monday, June 30, 2025, about a week after the Lagos-based refinery jacked up the ex-depot price per litre of petrol to ₦880.
Filling stations like MRS Oil & Gas, Ardova Plc, Heyden, and others with special agreements with the Dangote Refinery are expected to reduce their pump price to below ₦900 to reflect the marginal reduction in the ex-depot price of the premium commodity.
The ₦40 reduction followed a drop in oil prices on Monday as the two-week Middle East conflict between Israel and Iran eased.
The ceasefire between the two countries saw Brent crude fell 16 cents, or 0.24%, to close at $67.61 a barrel from around $80 a barrel after the United States bombed Iran’s nuclear facilities.