Dangote Petroleum Refinery and Petrochemicals has reduced its gantry price for premium motor spirit (PMS) to ₦1,200 per litre, effective immediately.
The refinery’s coastal price is now ₦1,153 per litre, expected to impact fuel supply costs across Nigeria’s downstream distribution chain.
This price adjustment reflects a ₦75 decrease from the previous rate of ₦1,275 per litre, amidst ongoing Middle East tensions influencing global oil markets.
According to Anthony Chiejina, Dangote Group spokesperson, the reduction aims to ease supply costs for marketers and potentially lower pump prices at retail outlets.
The move is seen as a stabilizing factor for Nigeria’s fuel market, given the country’s large-scale local refining capacity.
