In another move that could ease fuel costs for Nigerians, Dangote Refinery has reduced the ex-depot price of Premium Motor Spirit (PMS), also known as petrol, from ₦840 to ₦820 per litre, effective immediately.
This marks the second price cut by the company in just one week. It would be recalled that Dangote Refinery earlier reduced its ex-depot price from ₦880 to ₦840 per litre last week. A decision driven by volatility in the global crude oil market amid the recent 12-day geopolitical tension in the Middle East.
The latest adjustment was confirmed in Lagos by Dangote Group’s spokesperson, Mr. Anthony Chiejina, who said the move is part of the company’s commitment to ensuring affordability and availability of high-quality petroleum products in the country.
The steady drop in prices has attracted more independent marketers, who are now partnering with the refinery to distribute PMS nationwide.
This price reduction is expected to bring some relief to consumers, especially amid concerns over rising inflation and high transport costs. The company has assured Nigerians of a stable and continuous supply of fuel across the country.
