The petrol market recorded another change as the Dangote Refinery and a few other depot operators reduced their gantry price of Premium Motor Spirit to ₦840 per litre.
Sources reports that new rate moved down from the previous ₦843, following a fall in the price of Brent crude, which averaged $62 per barrel over the weekend.
The drop in crude cost pushed refiners and other players in the downstream market to adjust their prices.
Market checks showed that the Dangote Refinery, AIPEC and NIPCO all moved their depot price to ₦840 per litre.
Other depots reviewed their rates differently, with Rainoil at ₦844, Sigmund at ₦858, Master Energy at ₦858 and Northwest at ₦850 per litre.
Operators linked the price change to the dip in global crude, which affects refining and distribution costs.
The date of the OPEC+ virtual meeting was November 30, 2025.
On the global front, eight OPEC+ countries, including Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria and Oman, held a virtual meeting to look into the global oil market and its direction.
They stood by the decision taken earlier on November 2, 2025, to keep production levels unchanged for January, February and March 2026 because of expected seasonal shifts.
The group also restated that the 1.65 million barrels per day held back from the market could return step by step, depending on how conditions play out.
They maintained that they still have full room to pause or reverse voluntary production changes, including the 2.2 million barrels per day cut first announced in 2023.
