The recent decline in global crude oil prices has sparked renewed calls for the Dangote Refinery to lower its petrol price, currently set at N1,245 per litre.
Oil prices dropped on Tuesday after reports emerged that U.S. President Donald Trump had sent a 15-point peace proposal to Iran, aimed at easing tensions in the Middle East.
Following the development, both Brent crude and West Texas Intermediate (WTI) recorded losses of about five percent, falling to around $98 and $87 per barrel respectively.
The drop comes after weeks of heightened conflict involving Iran, the United States, and Israel, which had earlier pushed crude prices from about $64 per barrel to a peak of roughly $115 before easing.
During that period of rising prices, the Dangote Refinery adjusted its petrol rates multiple times in March 2026, citing global oil market trends. The increases led to pump prices ranging between N1,361 and N1,380 per litre nationwide.
Now, with crude prices trending downward, stakeholders in the energy sector are calling on the refinery to reflect the change by reducing petrol prices accordingly.
Energy experts, including Engr. Eleojo Joseph and Dominic Ebere, argued that pricing should respond both ways just as increases were implemented during the surge, reductions should follow the current market decline.
