Dangote Refinery Slashes Petrol Price Again – Now N815/Litre in Third 2025 Reduction

The price competition in the downstream oil sector continued on Thursday as the Dangote Refinery discreetly lowered petrol loading costs at its loading gantry, reducing the price from N825 to N815 per liter. This reduction marks the third time in 2025 that the refinery has adjusted its petrol loading cost, with previous cuts occurring on February 1 and February 26.

The new pricing structure introduced on Thursday was well received by oil marketers, who opted to bypass private depot owners and start sourcing their products directly from the refinery. The reduction of N10 in price is expected to prompt a competitive response from private fuel depots, potentially leading them to lower their prices to maintain their market share.

Additionally, Nigeria’s manufactured goods exports reached N494.2 billion in the fourth quarter, while Damagum disowned Wike’s South-South Congress.

On Tuesday, the landing cost of imported petrol in Nigeria decreased to N774.72 per liter. Industry analysts suggest that the ongoing decline in fuel prices could lead to a reduction in pump prices to approximately N800 per liter. The overall costs, which include various expenses such as shipping, import duties, and exchange rate fluctuations, have caused retail marketers to prefer importing products over sourcing them from the Dangote Refinery.

It is speculated that the declining landing cost could potentially lower the pump price to N800 per liter, which may have influenced the refinery’s decision to implement its recent price reduction. In response to these developments, depots in Lagos have begun adjusting their prices, with selling rates now ranging between N820 and N839 per liter to align with the refinery’s new pricing.