The Dangote Petroleum Refinery has revised its ex-depot (gantry) price for Premium Motor Spirit (PMS), commonly known as petrol, reducing it from N950 to N890 per litre.
The development was disclosed in a statement released on Saturday night by the Group Chief Branding and Communications Officer, Anthony Chiejina.
According to the statement, the strategic adjustment comes in response to the positive outlook in the global energy and gas markets.
The refinery also attributed the decision to the recent decline in international crude oil prices.
This adjustment 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.
Also Read: Petrol Prices Surge as Dangote Refinery Implements New Price Hike, Retail Costs Hit N1,150
“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.”
PulseNets learnt that the latest price reduction aligns with market trends and reflects Dangote Refinery’s continued responsiveness to global crude oil price movements.
