Dangote Petroleum Refinery has announced a ₦25 reduction in the gantry price of Premium Motor Spirit (PMS), bringing the ex-depot rate down from ₦799 to ₦774 per litre.
The refinery communicated the new pricing to marketers on Tuesday, stating that the adjustment takes immediate effect nationwide.
“This is to inform you of a change in our PMS gantry price from ₦799 per litre to ₦774 per litre,” the company stated.
According to the refinery, the price cut enhances the competitiveness of locally refined petrol. It noted that the current landing cost of imported PMS from Lome is approximately ₦793 per litre, which is higher than Dangote’s revised ex-depot price of ₦774 per litre.
The latest development comes barely two weeks after the refinery raised its ex-gantry price from ₦699 to ₦799 per litre, a move that saw MRS Oil Nigeria Plc retail outlets adjust pump prices to ₦839 per litre nationwide.
Dangote Refinery had earlier explained that the previous increase followed the end of a temporary festive price support initiative introduced during the yuletide season to ease economic pressure on Nigerians amid increased household spending.
The company stated that it absorbed substantial costs during the intervention period in the national interest, emphasizing that the pricing decisions are aimed at ensuring long-term sustainability, affordability, and stability in the downstream petroleum sector.