Dangote Petroleum Refinery has slashed its ex-depot price of Premium Motor Spirit (PMS), also known as petrol, from N950 to N890 per litre.
The Group’s Chief Branding and Communications Officer, Anthony Chiejina, announced the price adjustment in a statement on Saturday night.
According to Chiejina, the reduction is a response to positive trends in the global energy and gas markets, as well as a decline in international crude oil prices.
The new price took effect immediately on Saturday, February 1, 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.
“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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cc: Daily Post Ng
