Lagos, April 9, 2026 – Dangote Petroleum Refinery has reduced its ex-gantry price of petrol to N1,200 per litre from N1,275 per littre.
The price reduction followed the two-week ceasefire in the Iran war which has led to drop in global prices of crude.
An official source in the company said the refinery had reduced its prices following new developments in the international oil industry.
He said the new development was in line with the global market trends following the ceasefire in the Middle East crisis which led to the high oil prices.
The source stressed that the new prices reflected the realities of the international market.
Donald Trump, the U.S. president on Wednesday morning announced a ceasefire in the Iranian war, which he said, was at the behest of the Iranian government.
Following the ceasefire, crude oil prices have been dropping.
Brent crude futures has dropped to $95.05 per barrel, representing a 13 per cent decrease, while West Texas Intermediate (WTI) crude closed at $97.18, falling by nearly 14 per cent.
