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Global crude oil prices have dropped significantly, impacting forecasts for Nigeria’s fuel pricing landscapeDangote Refinery prices remain high despite crude price declines, frustrating marketers and fuel retailersIndustry analysts warn that refinery pricing factors exceed crude oil rates, complicating price adjustment discussions
Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
Global crude oil prices have fallen sharply from the highs recorded during the recent Middle East supply scare, but petrol and diesel prices at Dangote Petroleum Refinery remain significantly elevated, raising fresh concerns among marketers and fuel retailers across Nigeria’s downstream sector.
Brent crude closed the week at $87.33 per barrel, while U.S. West Texas Intermediate (WTI) settled at $84.88 per barrel.
Crude oil price crashes to a three-month low, but Dangote Refinery keeps rates high. Credit: UGC/ContributorSource: Getty Images
The latest decline pushed Brent to its lowest level since early March, signalling a
