Dangote Petroleum Refinery has announced a reduction in its ex-depot petrol price from N950 to N890 per litre. The price cut was revealed in a statement issued on Saturday by Anthony Chiejina, the group's chief branding and communications officer.

The company attributed the price adjustment to favorable conditions in global energy markets, particularly noting the recent decline in Brent crude oil prices from $81 to $77.48 per barrel between early January and Friday.

"This price revision directly responds to positive trends in global energy markets," the refinery stated. The company expressed confidence that the N60 reduction would help lower nationwide fuel costs and subsequently reduce prices of goods and services across various economic sectors.

The refinery emphasized its commitment to transparency in pricing and has called for cooperation from oil marketers to ensure consumers benefit from the price reduction. This adjustment follows the company's previous price modification announced on January 19th.