The Dangote Petroleum Refinery & Petrochemicals has slashed the ex-gantry price of Premium Motor Spirit (petrol) to N1,200 per litre, reversing its earlier increase amid a sharp drop in global crude oil prices triggered by geopolitical developments. You are aware of the ongoing tensions in the Middle East and their impact on crude oil prices. These changes reflect the realities of the international market.”However, the same refinery official told our correspondent on Wednesday morning that the refinery has now reversed its decision to increase prices. Brent crude price fell by 13.28 per cent to $94.76 per barrel on Wednesday amid easing geopolitical tensions involving Iran, the United States and Israel. This follows the current price of crude oil,” he added in a telephone interview.

Source: Punch April 08, 2026 17:45 UTC