Dangote Refinery has reversed its recent petrol price increase, reducing the depot price of Premium Motor Spirit (PMS) back to ₦1,275 per litre.
Checks on the pricing platform Petroleumprice.ng on Wednesday confirmed that the refinery withdrew the earlier ₦75 hike, restoring the previous price.
A senior official at the refinery also confirmed the adjustment, noting that the earlier increase had been applied across all loading channels before being reversed.
The price change has prompted marketers to quickly update their pricing structures amid ongoing supply challenges and fluctuating costs in the downstream sector.
Industry sources said the earlier price movement was influenced by a temporary supply squeeze caused by the suspension of pro forma invoices, alongside global crude oil price trends and rising logistics expenses.
The latest adjustment reflects efforts to stabilise supply and pricing within Nigeria’s petroleum market.
