Just three weeks after announcing an increase in the loading cost of Premium Motor Spirit, commonly known as petrol, the Dangote Petroleum Refinery has made an unexpected decision to reduce its ex-depot (gantry) price from N950 to N890 per litre.
In a statement released on Saturday night, signed by Group Chief Branding and Communications Officer Anthony Chiejina, the refinery stated that this strategic adjustment is a direct response to the positive developments in the global energy and gas markets, along with the recent decline in international crude oil prices.
This change takes immediate effect from Saturday, 1st February 2025.
The statement read in part: “Dangote Petroleum Refinery has reduced the ex-depot (gantry) price of Premium Motor Spirit, from N950 to N890, effective Saturday, 1st February 2025.
“This strategic adjustment reflects the positive outlook within the global energy sector and the recent decreases in international crude oil prices.
“In line with Dangote Refinery’s commitment to transparency and fairness, this price revision accounts for the ongoing fluctuations in global crude oil markets, as noted in the refinery’s statement on 19th January, when a modest increase was executed due to rising international crude oil prices.”
More details soon…