By The Editor
The Dangote Petroleum Refinery has announced a price reduction for Premium Motor Spirit (PMS), also known as petrol, across Nigeria. The new prices range from N875 to N905 per liter, depending on the location, marking a N15 reduction per liter nationwide.
New Petrol Prices by Region:
Lagos: N875
South-West: N885
North-East: N905
North-West & Central: N895
South-South & South-East: N905
This price adjustment applies to major fuel marketers partnering with Dangote Refinery, including MRS, Ardova, Heyden, Optima Energy, Techno Oil, and Hyde Energy. The refinery encourages consumers to purchase fuel only from authorized outlets and report any non-compliance via their hotline.
The price reduction follows the refinery's naira-for-crude deal, allowing it to lower petrol prices while maintaining stability. Despite fluctuations in global crude oil prices, Dangote Refinery has consistently reduced petrol prices, demonstrating its commitment to supporting the Nigerian economy.
Recently, independent oil marketers resumed large-scale petrol importation, with over 496.17 million liters brought into the country within nine days. This development may further impact the fuel market dynamics.
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