The Pathfinder
Wednesday July 9, 2025
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Dangote Petroleum Refinery, yesterday, further reduced the pump price of premium motor spirit, otherwise known as petrol, to N820 per litre from N838 per litre.
The adjustment was also due to the drop in crude oil prices to $70 per barrel yesterday, from more than $77 per barrel in June 2025.
However, other operators also adjusted their depot prices at different rates to be competitive under the current circumstances.
According to petrolprice.com, the Dangote Petroleum Refinery made the highest adjustment, while the Fatgbems adjustment to N837 per litre from N838 per litre was the least.
Also, Integrated adjusted its depot price to N836 per litre from N837 per litre while Bovas adjusted to N836 per litre from N837 per litre.
AIPEC adjusted its depot price to N837 per litre from N840 per litre while First Royal adjusted to N838 per litre.
Meanwhile, the Dangote oil refinery is planning to end crude importation by December 2025, a report by Bloomberg has said.
The refinery is willing to rely fully on Nigerian crude by the end of the year, a move that would replace hundreds of thousands of barrels a day of imported oil.
Bloomberg reports that the plant received about half of its crude in June from local producers who would be able to sell more to the facility as their foreign supply obligations end soon.
Vice President at Dangote Industries, who oversees the 650,000 barrel-a-day plant in Lagos, Devakumar Edwin, said the contracts with foreign crude suppliers would expire and the refinery would source its feedstock locally.
“We expect some of the long-term contracts will expire. Personally, and as a company, we expect that before the end of the year, we can transition 100 per cent to local crude,” Edwin was quoted
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