Dangote Petroleum Refinery and Petrochemicals has announced a fresh reduction in the prices of Premium Motor Spirit (PMS), popularly known as petrol, and Automotive Gas Oil (AGO), also known as diesel.
According to sources familiar with the development, the refinery has slashed the gantry price of petrol by N25 per litre, reducing it from N1,275 to N1,250 per litre.
The refinery also lowered the price of diesel by N100 per litre, bringing the gantry rate down from N1,800 to N1,700 per litre.
The latest adjustment is expected to provide some relief to marketers and consumers, as fuel prices remain a key concern across the country.
This marks the second major pricing move by the refinery within weeks. About three weeks ago, reports indicated that Dangote Refinery had raised its ex-gantry petrol price amid volatility in the global crude oil market.
However, a source at the time clarified that petrol continued to sell at N1,275 per litre, despite widespread reports suggesting a N75 per litre increase driven by fluctuations in international crude oil prices.
Market analysts say the latest price reduction reflects ongoing efforts by the refinery to respond to changing market conditions while maintaining competitiveness in the downstream petroleum sector.
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Oil and Gas