Dangote Petroleum Refinery has reduced the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, by N75 per litre, offering fresh hope of lower pump prices for consumers across Nigeria.
The price adjustment, announced in a circular to fuel marketers on Monday, follows the easing of geopolitical tensions in the Middle East, which had driven up global crude oil prices and fuel costs over the past three months.
Under the new pricing structure, the refinery’s gantry price has been reduced from N1,250 per litre to N1,175 per litre. The coastal price per metric tonne has also been cut from N1,595,790 to N1,495,215.
Related News
Dangote Refinery said the revised rates took effect from midnight on June 16, adding that all outstanding unloaded gantry volumes would be repriced accordingly.
The company attributed the reduction to improving conditions in the international energy market following signs of a diplomatic breakthrough between the
This post was originally published on this site.
