In a move to provide some relief to consumers, Dangote Refinery has announced a ₦15 per litre reduction in the retail price of Premium Motor Spirit (PMS), commonly known as petrol. The new prices, which vary by region, range between ₦875 and ₦905 per litre.
The announcement, made via the refinery’s official social media channels, follows a recent assurance from Dangote Refinery that petrol prices would remain stable despite fluctuations in global crude oil prices.
Regional Breakdown of New Prices
- Lagos: ₦875 per litre
- South West: ₦885 per litre
- North Central & North West: ₦895 per litre
- North East, South East & South South: ₦905 per litre
Consumers are advised to purchase the product at these adjusted rates from designated partner stations, which include MRS, Ardova, Heyden, Optima Energy, Techno Oil, and Hyde Energy.
Industry Impact
The price cut is expected to offer modest relief to motorists and businesses that have been burdened by high fuel costs in recent months. It also signals Dangote Refinery’s continued effort to play a stabilizing role in Nigeria’s petroleum market following its recent entry into domestic fuel supply.
With global crude prices remaining volatile, Dangote’s proactive pricing strategy could encourage more competitive pricing and bring temporary relief to Nigeria’s inflation-weary population.
