Dangote Petroleum Refinery has cut the gantry price of Premium Motor Spirit (PMS) by N25 per litre, reducing it from N799 to N774 per litre.
The refinery informed marketers of the new rate on Tuesday, saying it takes effect immediately across the country.
“This is to notify you of a change in our PMS gantry price from N799 per litre to N774 per litre,” the company stated.
“The adjustment further strengthens the competitiveness of locally refined products, as the current landing price of imported PMS from Lome is about N793 per litre, compared to Dangote Refinery’s ex-depot price of N774 per litre.”
The price drop comes two weeks after the refinery raised the ex-gantry rate from N699 to N799 per litre, prompting MRS Oil Nigeria Plc retail outlets to sell petrol at N839 per litre nationwide.
Dangote Refinery said the previous increase followed a temporary festive price support intervention designed to ease the impact of high household spending during the yuletide season.
During the intervention, the company absorbed significant costs to promote affordability and maintain market stability.
It added that the move is part of efforts to ensure long-term sustainability, affordability, and stability in the downstream petroleum sector.
