The Dangote Petroleum Refinery has announced another reduction in the gantry price of Premium Motor Spirit (PMS), commonly known as petrol from N865 to N835 per litre.
The price slash 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 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 a crucial role in Nigeria’s energy landscape.
Details later…