Dangote Petroleum Refinery has once again reduced the pump price of Premium Motor Spirit (PMS), commonly known as petrol, bringing it down to ₦825 per litre from the previous ₦835. This move comes amid intensifying competition within Nigeria’s downstream oil market.
Last month, the 650,000-barrels-per-day facility lowered the pump price from ₦865 to ₦835 per litre, signalling its intention to drive down costs and expand market share.
According to the company, the latest price cut is aimed at offering greater value to customers while reinforcing its position as a dominant player in the local petroleum supply chain.
MUST READ: Dangote Refinery Reduces Petrol Loading Cost Again
Industry sources attribute the reduction to a significant drop in global crude oil prices, which have now fallen below $64 per barrel. The move also follows renewed collaboration between the Dangote Group and the Nigerian National Petroleum Company Limited (NNPC).
The revised pricing was communicated to oil marketers and customers via an official notice issued on Monday.
(Editor: Paul Akhagbemhe)
