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NIGERIA: Dangote Refinery Reduces Petrol Price To N835 Per Litre

Business

By Ameenat Hamzat, Lagos, Nigeria

Dangote Petroleum Refinery and Petrochemicals has announced a fresh reduction in the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol.

The new price is now pegged at N835 per litre, down from the previous rate of N865, which was in effect for the past six days. This represents a 3.5% decrease.

The announcement was made on Wednesday via an official notice issued to the company’s customers. This latest reduction marks the third downward price adjustment by the refinery in under six weeks.

Earlier, the company had slashed the price from N880 to N865 per litre, although the drop was not reflected in pump prices across filling stations due to non-compliance by oil marketers.