Dangote Refinery has announced another reduction in the price of Premium Motor Spirit (petrol), lowering its nationwide gantry price to N1,125 per litre from N1,175 per litre.
Confirming the adjustment on Thursday, spokesperson for the Dangote Group, Anthony Chiejina, said the refinery implemented a N50 per litre reduction. See More
The latest adjustment comes days after the refinery reduced its gantry price by N75 per litre on June 16, bringing the cumulative reduction within two weeks to N125 per litre.
In addition to the petrol price review, Dangote Refinery also reduced its coastal supply price from N1,495,215 per metric tonne to N1,428,165 per metric tonne.
The development follows a decline in global crude oil prices, which recently eased to between $69 and $73 per barrel after earlier market pressures linked to tensions in the Middle East.
The previous price adjustment by the refinery had triggered reductions in pump prices across several retail outlets nationwide.
Despite the latest cuts, retail petrol prices in Abuja and surrounding areas currently remain within the range of N1,241 to N1,305 per litre, depending on location and marketer pricing structures.
Many consumers are expected to monitor whether the latest reduction at the depot level translates into lower pump prices in the coming days.
The renewed decline in fuel pricing comes as Nigerians continue to seek broader relief from transportation and living costs amid ongoing economic pressures…See More
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