The recent fall in global crude oil prices has renewed calls for the Dangote Refinery to reduce its petrol price, currently set at N1,245 per liter.

Crude oil prices fell below $100 per barrel on Tuesday after reports that United States President Donald Trump sent a 15-point peace proposal to Iran aimed at easing tensions in the Middle East.

Both Brent crude and West Texas Intermediate (WTI) recorded declines of about five percent, dropping to $98 and $87 per barrel, respectively.

The slump follows nearly a month of escalating conflict involving Iran, the United States, and Israel, which had previously driven crude prices from roughly $64 to a peak of $115 per barrel before retreating.

During the earlier surge, Dangote Refinery raised petrol prices for the fifth time in March 2026, citing global crude market trends, pushing pump prices nationwide to between N1,361 and N1,380 per liter.

With the recent decline in crude prices, energy stakeholders are urging the refinery to adjust petrol prices downward to reflect current market conditions.

Experts, including Engr. Eleojo Joseph and Dominic Ebere, argue that petrol pricing should be responsive to global market shifts, just as it was during the previous surge.

They emphasized that maintaining high petrol prices amid falling crude costs could increase fuel cost pressures on consumers and the economy.

No official statement has yet been released by Dangote Refinery regarding a potential price adjustment.