The Dangote Petroleum Refinery has implemented another significant price adjustment, lowering the gantry price of Premium Motor Spirit (PMS), or petrol, to N835 per litre, a 3.5% decrease from the previous price of N865 per litre, SAVANNAH NEWSNOW REPORTS.
This latest move comes amid a continued decline in global crude oil prices, which have fallen to $64 per barrel from over $70 per barrel in recent weeks.
The refinery had previously lowered its gantry price from N880 to N865 per litre, but industry observers pointed out that this reduction did not benefit end-users, as many oil marketers did not adjust their pump prices accordingly.
The Dangote Refinery, with a processing capacity of 650,000 barrels per day, remains crucial in transforming Nigeria’s energy sector and stabilizing prices.
