The Dangote Petroleum Refinery has announced a reduction in its ex-depot (gantry) price of Premium Motor Spirit (PMS), commonly referred to as petrol, decreasing the price from N950 to N890 per liter.
This decision was communicated in a statement released on February 1st 2025 evening by the Group Chief Branding and Communications Officer, Anthony Chiejina.
As indicated in the statement, this strategic price adjustment is a direct reflection of the favorable trends observed in the global energy and gas markets. The recent decline in international crude oil prices has been highlighted as a contributing factor to this decision.
The new pricing will take effect immediately, commencing on Saturday, 1st February 2025.
According to the statement: “Dangote Petroleum Refinery has reduced the ex-depot (gantry) price of Premium Motor Spirit, commonly known as petrol, from N950 to N890, effective from Saturday, 1st February 2025.
“This strategic adjustment is a direct response to the positive outlook within the global energy and gas markets, as well as the recent reduction in international crude oil prices.
“As part of Dangote Refinery’s unwavering commitment to transparency and fairness, this price revision reflects the ongoing fluctuations in global crude oil markets, as highlighted in the refinery’s statement on 19th January, when a modest increase was implemented due to the previously rising international crude oil prices.”
