Dangote Refinery Cuts Petrol Price from N950 to N890 Per Litre.

Written on 02/02/2025
Premium Times

Dangote Refinery has reduced its ex-depot price of Premium Motor Spirit (PMS) from N950 to N890 per litre, effective February 1, 2025.

This was announced by the Group's Chief Branding and Communication Officer, Anthony Chiejina, in a statement on Saturday night.

The price cut means petrol marketers will now purchase fuel at N890, adding transportation costs and profit margins to set the final pump price.

Consumers can expect a drop in petrol prices at filling stations from around N1,000 to approximately N950. This adjustment comes just two weeks after Dangote previously increased its gantry price.

 


On 17 January, the company announced an upward adjustment in the gantry price of petrol for marketers.

According to the company, at quantities ranging from 2 million to 4.99 million liters, customers would pay N955 per liter, up from N899.5. However, for 5 million liters and above, the price would be N950 per liter, up from N895.

In its statement on Saturday, the company said the latest price reduction is a direct response to the positive outlook within the global energy and gas markets, as well as the recent reduction in international crude oil prices.

Source