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.