On Wednesday, Nigerian petroleum depot owners reduced their ex-depot petrol prices per litre to below those at the Dangote Refinery gantry.
According to checks by Daily Post, depots including AA Rano, Sahara, Soroman, Bovas, and Alkanes cut their ex-depot petrol prices to N1,270 per litre from the previous range of N1,285–N1,290. The new rate is N5 lower than Dangote Refinery’s gantry price, which stood at N1,275 per litre.
The price reduction follows a decline in global crude oil prices, with Brent and West Texas Intermediate falling below $100 per barrel on Tuesday, partly due to a US-led peace proposal with Iran. The drop has reportedly put pressure on Dangote Refinery to lower its gantry price below N1,275.
At the retail level, petrol prices in Abuja were recorded between N1,361 and N1,380 per litre at the time of reporting. Analysts note that adjustments in gantry or ex-depot prices typically have a direct impact on retail fuel rates.