Global Oil Price Slide Sparks Calls for Dangote Refinery to Cut Petrol Cost

Global crude oil prices fell below $100 per barrel on Tuesday. This has renewed calls for Dangote Refinery to cut its petrol price, now set at N1,245 per litre. Brent crude dropped to $98 per barrel. West Texas Intermediate fell to $87 after a 15-point peace proposal from the US President helped ease Middle East tensions. Prices had surged to about $115 per barrel last month amid escalating conflict. In March, Dangote raised pump rates to between N1,361 and N1,380 per litre. Energy experts Engr Eleojo Joseph and Dominic Ebere say the refinery should lower its rates. They argue this would align pump prices with current market realities.

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