The Dangote Petroleum Refinery has announced a reduction in the ex-depot (gantry) price of Premium Motor Spirit (PMS), commonly known as petrol, from N950 to N890 per litre.
This price adjustment is said to take immediate effect from Saturday, 1st February 2025.
The development was disclosed in a statement issued on Saturday night by the Group’s Chief Branding and Communications Officer, Anthony Chiejina.
According to the statement, the decision to lower the price was influenced by the positive outlook within the global energy and gas markets and the recent reduction in international crude oil prices.
The statement read fully: “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.”
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