The Dangote Refinery has announced another reduction in the gantry price of Premium Motor Spirit (PMS), commonly known as petrol, from N865 to N835 per litre.
Anthony Chiejina, the Group Chief Branding and Communications Officer of Dangote Group, disclosed this in a statement on Wednesday in Lagos.
Chiejina said that the price reduction came after the recent decline in global crude oil prices, which have dropped to $64 per barrel from over $70 per barrel in recent weeks.
The new price is now set at N835 per litre, down from N865 per litre, which had been in effect for the past six days, representing a 3.5 per cent reduction.
Meanwhile, the company has communicated the price adjustment to its customers through an official notice on Wednesday.
The refinery had earlier lowered its gantry price from N880 to N865 per litre; nonetheless, oil marketers did not transfer the savings to consumers.
The Dangote Refinery, with a capacity of 650,000 barrels per day, plays an important role in Nigeria’s energy landscape.