May 12, (THEWILL) – The Dangote Petroleum Refinery has again slashed the price of Premium Motor Spirit (PMS), popularly known as petrol, to N825 per litre—down from its previous rate of N835.
The latest price cut, which reflects a N10 reduction, comes just weeks after the refinery lowered its gantry price from N865 to N835 per litre on April 11.
Industry sources attribute the reduction to a significant drop in global crude oil prices, which have now fallen below $64 per barrel. The move also follows renewed collaboration between the Dangote Group and the Nigerian National Petroleum Company Limited (NNPC).
The revised pricing was communicated to oil marketers and customers via an official notice issued on Monday.
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