Dangote Petroleum Refinery has once again lowered the price of Premium Motor Spirit (PMS), commonly known as petrol, bringing it down to N835 per litre. This represents a 3.5% reduction from the previous rate of N865 per litre.
The latest price cut follows a drop in global crude oil prices, which recently fell to around $64 per barrel after staying above $70 in previous weeks.
This adjustment is part of the refinery’s efforts to reflect changes in the international oil market.
Earlier, the refinery had reduced the price from N880 to N865 per litre, but many marketers reportedly failed to transfer the benefit to end-users, keeping retail prices unchanged.
As one of the most significant players in Nigeria’s oil industry, with a refining capacity of 650,000 barrels per day, Dangote Refinery continues to influence fuel pricing and supply across the country.