Again, Dangote reduces petrol prices nationwide
Dangote Petroleum Refinery has again announced a fresh reduction in the pump prices of Premium Motor Spirit (PMS), also known as petrol, across Nigeria, with the new rates now ranging from ₦875 and ₦905 per litre, depending on the region.
According to a breakdown of the updated pricing template, residents in Lagos will now pay ₦875 per litre, while those in other South-West states will buy petrol at ₦885. Prices in the North-East and South-South have been set at ₦905, while the North-West and North-Central regions will pay ₦895 per litre.
This adjustment reflects a ₦15 reduction per litre across all regions and applies to partner retail outlets, such as MRS, Ardova, Heyden, Optima Energy, Techno Oil, and Hyde Energy, working with the refinery.
Before this latest price cut, petrol sold for ₦890 per litre in Lagos and as high as ₦920 in the North-East and South-South. With the new rates, consumers in Lagos will now buy at ₦875, while those in the previously highest-priced regions will pay ₦905.
“Our quality petrol and diesel are refined for better engine performance and are environmentally friendly,” the company stated in an official notice.
The price slash comes shortly after the 650,000-barrels-per-day Lekki-based refinery attributed the reduction to a naira-for-crude deal, which has enabled it to lower the cost of petrol at the pump.
READ ALSO:Again, Dangote cuts petrol price to ₦825 per litre
In a release signed by the Group Chief Branding and Communications Officer, Anthony Chiejina, the company reaffirmed its commitment to cushioning the effects of rising fuel prices on Nigerians.
“The decision to maintain price stability reflects our unwavering commitment to supporting the Nigerian economy and alleviating the burden on consumers from increasing fuel prices,” the statement reads.
The refinery assured that petrol prices will remain affordable and stable.
READ ALSO: Like Dangote Refinery, NNPC crashes petrol price to ₦880 per litre
Meanwhile, this is not the first time Dangote Refinery will be reducing its petrol prices in recent months.
Just last week, the refinery slashed the gantry price of Premium Motor Spirit to ₦825 per litre from ₦835 per litre as competition continues in the domestic market.
Also, the refinery implemented two price reductions within the space of a week, crashing the gantry price by ₦45, from ₦880 to ₦835 per litre.
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