By Ado Oyeyemi
Dangote Petroleum Refinery and Petrochemicals has announced a fresh reduction in the prices of Premium Motor Spirit (petrol) and Automotive Gas Oil (diesel), offering some relief in the downstream oil market.
Findings from industry sources on Saturday revealed that the refinery cut the gantry price of petrol by N25 per litre, bringing it down from N1,275 to N1,250 per litre.
In a similar move, the price of diesel was also reduced by N100 per litre. The product will now be sold at N1,700 per litre at the gantry, down from N1,800 per litre.
The latest adjustment comes just weeks after reports indicated an upward review of petrol prices at the privately owned refinery amid fluctuations in global crude oil benchmarks.
At the time, industry sources had maintained that petrol still sold at N1,275 per litre despite speculation of an increase of about N75 per litre.
The new price cut is expected to influence market dynamics within the downstream sector, particularly in terms of distribution costs and retail pump prices across the country.
READ ALSO
- Police nab suspect, recover locally made firearm
- Students protest killing of polytechnic final year student in robbery attack
- Burna Boy, Shakira’s ‘Dai Dai’ Makes World Cup Chart History
- 11th WAFCON Title: Nigeria On The March Again
- WAFCON 2026: Chawinga confident Malawi can compete with Super Falcons
Market operators are yet to react officially to the latest adjustment as at the time of filing this report.
