The Dangote Petroleum Refinery has reduced its ex-depot (gantry) price of Premium Motor Spirit (PMS), otherwise known as petrol, from N950 to N890 per litre.
The development was announced in a statement issued on Saturday night by the Group Chief Branding and Communications Officer, Anthony Chiejina.
According to the statement, the strategic adjustment was a direct response to the positive outlook within the global energy and gas markets.
It also cited the recent reduction in international crude oil prices as the reason for the decision.
This change takes immediate effect from today, Saturday, 1st February 2025.
According to the statement: “Dangote Petroleum Refinery has reduced the ex-depot (gantry) price of Premium Motor Spirit, commonly known as petrol, from N950 to N890, effective from Saturday, 1st February 2025.
“This strategic adjustment is a direct response to the positive outlook within the global energy and gas markets, as well as the recent reduction in international crude oil prices.
“As part of Dangote Refinery’s unwavering commitment to transparency and fairness, this price revision reflects the ongoing fluctuations in global crude oil markets, as highlighted in the refinery’s statement on 19th January, when a modest increase was implemented due to the previously rising international crude oil prices.”
