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.
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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…
