Oil marketers sourcing Premium Motor Spirit (PMS), commonly known as petrol, from the Dangote Petroleum Refinery have announced a significant price reduction. The price has been slashed by 11.8%, bringing the cost down to N939.50 per litre from the previous N1,060 per litre.
Until yesterday, petrol was still being sold at N1,060 per litre according to checks conducted by Vanguard in Lagos and surrounding areas. However, recent investigations reveal that major marketers, including MRS, have adjusted their prices in line with this reduction. Although Alhaji Sayyu Idris Dantata, the Chairman of MRS, declined to comment, a visit to MRS’s filling station in Ojota, Lagos, confirmed the updated price of N939.50 per litre.
Contributing to this reduction, the Dangote Petroleum Refinery has also decreased its ex-pump price, now set at N899.50 per litre, down from N970 per litre. This move is aimed at providing financial relief to Nigerians as the holiday season approaches.
Anthony Chiejina, Chief Branding and Communications Officer of Dangote Group, stated, “To alleviate transport costs during this holiday season, Dangote Refinery is offering a holiday discount on PMS. From today, our petrol will be available at N899.50 per litre at our truck loading gantry or SPM.”
Additionally, consumers purchasing petrol on a cash basis will have the opportunity to buy an additional litre on credit, supported by a bank guarantee from Access Bank, First Bank, or Zenith Bank.
Stay tuned for further updates.
