Dangote Refinery slashes petrol to N1,165/litre, diesel to N1,570/litre nationwide

Dangote Refinery cut its petrol price to N1,165 per litre from N1,215 and diesel to N1,570 per litre from N1,650, effective Wednesday, August 4, 2026. The 700,000‑barrel‑per‑day facility reduced petrol by N50 and diesel by N80 per litre across Nigeria. The move is expected to push retail pump prices lower nationwide, according to DAILY POST. PETROAN National President Billy Gillis-Harry told the same outlet that further drops are possible if landing costs continue to fall. The refinery’s earlier pricing had kept fuel costs high for transporters and households, contributing to inflationary pressure. Lower fuel prices could reduce transport fares, lower production costs for manufacturers, and ease household energy expenses. With the national average pump price still above N1,600 for petrol in many stations, the cut may narrow the gap between wholesale and retail rates. Will you redirect the savings from cheaper fuel toward savings, investments, or increased spending on other goods and services?

SOURCE: https://dailypost.ng/2026/08/05/dangote-refinery-reduces-petrol-diesel-prices-2/