In a significant move, Dangote Petroleum Refinery has announced a fresh reduction in the gantry price of Premium Motor Spirit (PMS), commonly known as petrol, bringing the price down to N835 per litre from the previous N865.
The 3.5 per cent decrease comes in response to the recent slump in global crude oil prices, which have fallen to $64 per barrel from over $70 in recent weeks.
The refinery had previously reduced its gantry price from N880 to N865 per litre; however, oil marketers did not pass on the savings to consumers.
The Dangote Refinery, with a capacity of 650,000 barrels per day, continues to play a crucial role in Nigeria’s energy landscape.