Dangote Petroleum Refinery has reduced the ex-depot price of Aviation Turbine Kerosene (ATK), commonly known as jet fuel, by another ₦150 per litre representing a 16.1 per cent cut, bringing the product's price down from ₦1,450 to ₦1,300 per litre.
The latest adjustment marks the refinery's third jet fuel price reduction this month and reflects the continued softening of global crude oil prices.
The refinery first reviewed its ATK price on June 6, reducing it by ₦100 per litre from ₦1,650 to ₦1,550. A second reduction followed on June 16, when the price was cut by another ₦100 to ₦1,450 per litre. The latest ₦150 reduction brings the cumulative price cut within 18 days to ₦350 per litre.
Analysis of the pricing trajectory shows that the refinery has reduced jet fuel prices by 21.2 per cent from the June 6 level of ₦1,650 per litre. However, compared with the ₦1,550 per litre price introduced on June 6, the latest reduction represents a decline of 16.1 per cent.
As at the time of writing 6:55 a.m. (WAT), Brent crude traded at $72.51 per barrel, down 1.67 per cent, while U.S. benchmark West Texas Intermediate (WTI) fell 1.32 per cent to $69.41 per barrel.
The latest downward review is expected to provide significant relief for domestic airlines, where aviation fuel accounts for more than 40 per cent of operating costs. Consequently, lower fuel procurement costs could improve airline margins, support route economics and reduce pressure on ticket fares.
The development also highlights the growing influence of Dangote Refinery in Nigeria's aviation fuel market. With international crude benchmarks continuing to weaken and refined product values adjusting accordingly, market participants expect the latest reduction to further enhance supply competitiveness while easing cost pressures across the aviation value chain.