Dangote Refinery has announced a reduction in the prices of Premium Motor Spirit (PMS), commonly known as petrol, and Automotive Gas Oil (AGO), or diesel, across Nigeria.
On Wednesday, the 700,000-barrel-per-day refinery lowered its petrol gantry price to ₦1,165 per litre from ₦1,215, while diesel dropped to ₦1,570 per litre from ₦1,650.
This represents a decrease of ₦50 per litre for petrol and ₦80 per litre for diesel.Industry experts say the move is expected to drive down retail pump prices nationwide, offering relief to consumers and businesses grappling with high energy costs.
Recall that Billy Gillis-Harry, National President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), recently told Daily Post that petroleum product prices could decline further if landing costs continue to fall.
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