In a move aimed at reducing fuel costs for Nigerians, Dangote Petroleum Refinery has announced a 3.5% cut in the gantry price of Premium Motor Spirit (PMS), popularly known as petrol. The new price stands at N835 per litre, down from N865.
This is the second reduction in recent weeks, reflecting continued declines in global crude oil prices, which have fallen to $64 per barrel, from over $70.
The refinery had previously adjusted prices from N880 to N865, though the impact on retail pump prices was limited as marketers did not fully pass on the savings to consumers.
With a production capacity of 650,000 barrels per day, Dangote Refinery remains a key player in transforming Nigeria’s fuel supply chain and energy economy.
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