Dangote Petroleum Refinery and Petrochemicals Limited is expected to review its ex-depot petrol price downward as global oil prices decline sharply on the back of renewed hopes for a United States-Iran nuclear deal.
As at the time of writing, 9:32pm WAT WTI and Brent is trading at 89.42 and 94.89 respectively, approximately 5% decline today as diplomatic progress between Washington and Tehran eased supply concerns tied to the Strait of Hormuz, putting immediate pressure on refinery pricing templates across Nigeria's downstream sector.
The anticipated petrol price adjustment follows a broader pricing shift already underway at the refinery. Dangote has reduced its Aviation Turbine Kerosene price from ₦1,820 to ₦1,650 per litre and its Automotive Gas Oil price from ₦1,800 to ₦1,700 per litre, signalling a downward repricing trend across its product slate.
Competitive pressure from private depot operators is adding urgency to the review. Petroleumprice.ng data shows that NIPCO and Aiteo are currently selling petrol at ₦1,274 per litre, undercutting Dangote's current ex-depot rate.