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The Dangote Petroleum Refinery has announced a reduction in the ex-depot price of Premium Motor Spirit (PMS), also known as petrol, from N950 to N890 per litre.
The new price takes effect immediately from Saturday, February 1, 2025. According to a statement by the Group’s Chief Branding and Communications Officer, Anthony Chiejina, the price reduction is a response to the positive outlook in the global energy and gas markets.
The statement attributed the decision to the recent reduction in international crude oil prices, which has created a favourable environment for the price adjustment.
Dangote Refinery emphasized its commitment to transparency and fairness, noting that the price revision reflects the ongoing fluctuations in global crude oil markets.
The refinery had previously increased the price of petrol on January 19 because of rising international crude oil prices. However, with the recent decline in global crude oil prices, Dangote Refinery has moved swiftly to adjust its prices, passing the benefits to consumers.
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