The Dangote Petroleum Refinery has slashed its ex-depot price for Premium Motor Spirit (PMS), commonly known as petrol, by N1,125 per litre.
Taking effect immediately, the price reduction is a direct response to the recent stabilization and decline in global crude oil prices.
The refinery’s coastal supply price was also adjusted downward, dropping to N1,428,165 per metric tonne from N1,495,215.
According to a notice issued to customers, the adjustment was influenced heavily by easing geopolitical tensions in the Middle East, which successfully dragged global oil benchmarks like Brent crude down to around $72\) per barrel.
With the ex-depot rate now reduced, motorists and industry experts anticipate corresponding price drops at filling stations across the country.
This latest downward revision provides a much-needed financial break for Nigerian commuters and businesses grappling with transportation and logistics costs.
