There is no official report of a new petrol price increase in Nigeria today.
Instead, recent reports show that the Dangote Refinery reduced its ex-depot petrol price by ₦75 per litre, from ₦1,250 to ₦1,175 per litre. The reduction took effect on June 16 and is expected to bring down pump prices across the country.
However, many filling stations are yet to adjust their prices, which is why motorists are still paying high rates in some areas. Industry operators say petrol prices could fall further if global crude oil prices continue to decline. to a possible reduction in fuel prices rather than another hike.