Breaking: Again, Dangote Refinery slashes petrol price

In another major price adjustment, the Dangote Petroleum Refinery has announced a fresh reduction in the gantry price of Premium Motor Spirit (PMS), also known as petrol.

The new price now stands at N835 per litre, down from N865 per litre, representing a 3.5% cut.

This latest move follows the continued decline in global crude oil prices, which have recently dropped to $64 per barrel, down from over $70 per barrel in the past few weeks.

The refinery had earlier reduced its gantry price from N880 to N865 per litre. However, industry observers noted that the benefits of that reduction were not transferred to end-users, as many oil marketers failed to reflect the change in their pump prices.

Despite that, the Dangote Refinery, which boasts a processing capacity of 650,000 barrels per day, remains a pivotal player in reshaping Nigeria’s energy sector and driving efforts toward price stabilization.