By: Manoah Kikekon
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| Dangote Refinery |
Dangote Refinery has announced another reduction in the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, from ₦840 to ₦820 per litre, effective immediately.
This marks the second price cut in just one week, following last week’s reduction from ₦880 to ₦840 per litre. The latest adjustment signals a positive trend in fuel pricing and supply stability, as more independent marketers partner with the refinery to distribute its products nationwide.
The refinery attributed the initial price reduction to easing global crude oil market pressures after a 12-day geopolitical crisis in the Middle East had previously driven up costs. With improved supply chains and operational efficiency, Dangote Refinery continues to stabilize fuel prices, offering competitive rates compared to imported alternatives.
Dangote Group’s spokesperson, Mr. Anthony Chiejina, confirmed the adjustment, stating: “The PMS price has been reduced from ₦840 to ₦820 per litre effective immediately.”
The consistent price cuts have encouraged more independent marketers to source products directly from the refinery, ensuring wider availability of affordable fuel across Nigeria. Analysts suggest that if the trend continues, pump prices may further decrease, easing transportation and inflation pressures.
Industry experts are closely monitoring global oil trends and local refinery output to predict future pricing. With Dangote Refinery ramping up production and maintaining steady supply, Nigerians could see more price stability in the coming weeks.