Dangote Refinery Lowers Petrol Price to ₦815 Per Litre Amid Market Competition

Dangote Refinery has lowered its ex-depot petrol price from ₦825 to ₦815 per litre, marking another price adjustment amid increasing competition in Nigeria’s downstream oil sector.

The reduction, announced on March 13, 2025, follows a decline in the landing cost of premium motor spirit (PMS), which has dropped to ₦774.82 per litre. This price shift comes as global oil prices fluctuate and Nigeria continues to adjust to the removal of fuel subsidies.

As a result, petrol prices in Lagos have now fallen to around ₦860 per litre, reflecting a more competitive market driven by supply and demand dynamics. Industry experts suggest that the ongoing price adjustments could lead to further reductions as refineries and marketers compete for market share.