Dangote Refinery Reduces Petrol Price to N835 Per Litre
By Patience Ikpeme
Dangote Petroleum Refinery and Petrochemicals has announced another decrease in the ex-depot (gantry) loading price for Premium Motor Spirit (PMS), commonly known as petrol.
The new price is now set at N835 per litre, a reduction from the N865 per litre that was in effect for the preceding six days. This latest adjustment represents a 3.5 per cent decrease in the refinery’s selling price.
The company officially communicated this price revision to its customer base through a formal notice issued on Wednesday.
This recent price cut marks the third downward adjustment initiated by Dangote Refinery in a period of less than six weeks, signaling a potentially volatile pricing environment for the crucial commodity.
Prior to this latest reduction, the refinery had lowered its gantry price from N880 to N865 per litre. However, despite this earlier decrease at the depot level, consumers at the pump did not experience a corresponding drop in petrol prices. Oil marketers reportedly did not pass on the savings, raising questions about the factors influencing retail pricing.
This consistent downward trend in Dangote Refinery’s ex-depot price could be attributed to a number of factors, including fluctuations in the global crude oil market and the refinery’s operational efficiency as it ramps up production.
