Dangote Petroleum Refinery has announced a reduction in the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, cutting the cost by ₦50 per litre from ₦1,175 to ₦1,125.
The refinery said the price adjustment was driven by a decline in global energy prices following the easing of geopolitical tensions in the Middle East, a region that plays a critical role in the international oil market.
In a notice issued to customers, Dangote Refinery confirmed that its gantry loading price had been reduced to ₦1,125 per litre from the previous ₦1,175 per litre. The company also lowered its coastal supply price, reducing it from ₦1,495,215 per metric tonne to ₦1,428,165 per metric tonne. The latest price cut is expected to bring some relief to fuel marketers and consumers, who have faced fluctuating petrol prices amid shifts in global crude oil markets and foreign exchange pressures.
Industry observers say the reduction reflects the direct impact of improving international market conditions on domestic fuel pricing, with further adjustments likely to depend on developments in the global energy sector.
