Nigeria’s Dangote Refinery has reduced the price of petrol at its loading gantry by N100, bringing the rate down from N1,175 to N1,075 per litre.

Officials at the refinery confirmed the adjustment on Tuesday, linking the decision to a sharp drop in global crude oil prices.

According to industry reports, Brent crude fell significantly, sliding from above $100 per barrel earlier in the week to around $89, following volatility in the international oil market.

The refinery also adjusted the price for products distributed through coastal supply routes. Petrol delivered through marine channels will now sell for N1,050 per litre, reflecting logistics differences.

Diesel prices were also revised. The product now sells for N1,430 per litre at the gantry, marking a N190 drop from its previous price of N1,620 per litre.

Market analysts say the recent price changes are tied to fluctuations in global crude markets, with geopolitical tensions, particularly involving the United States and Iran, continuing to influence oil prices worldwide.