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Dangote Petroleum Refinery has announced another downward review of its petrol price, reducing the gantry price of Premium Motor Spirit (PMS) to N835 per litre.
This marks a 3.5 percent cut from the previous price of N865 per litre.
The latest price adjustment comes on the back of falling global crude oil prices, which have recently dropped to $64 per barrel after previously hovering above $70.
This move is expected to ease some pressure on the downstream sector and may signal relief for consumers—if retailers follow through with the reduction.
This is the second time in recent weeks that the refinery has lowered its prices, having earlier reduced the gantry price from N880 to N865 per litre.
However, the earlier reduction was not fully reflected at the pump, as many oil marketers failed to adjust their retail prices.
With a production capacity of 650,000 barrels per day, the Dangote Refinery remains a key player in Nigeria’s oil and gas sector, and its pricing decisions are closely watched by both industry stakeholders and the general public.