In a notable move, Dangote Petroleum Refinery has announced another reduction in the gantry price of Premium Motor Spirit (PMS), commonly known as petrol, lowering it to N835 per litre from the previous N865.
This marks a 3.5% decrease.
The adjustment comes in response to a continued drop in global crude oil prices, which have fallen to $64 per barrel from over $70 in recent weeks.
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This is the second recent price cut by the refinery, which had earlier reduced the rate from N880 to N865 per litre.
Despite the initial reduction, oil marketers failed to reflect the savings at the pump for consumers.
With a processing capacity of 650,000 barrels per day, Dangote Refinery remains a key player in reshaping Nigeria’s petroleum industry.
, commonly known as petrol, lowering it to N835 per litre from the previous N865.){kind=link}