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Dangote Refinery has reduced the gantry price of Premium Motor Spirit (PMS) by N25 per litre, lowering its ex-depot rate from N799 to N774 per litre.
The refinery announced the adjustment on Tuesday in a notice signed by management and sent to marketers.
Dangote noted that the new price takes immediate effect nationwide.
“This is to notify you of a change in our PMS gantry price from N799 per litre to N774 per litre,” the company said.
It added that the adjustment further “strengthens the competitiveness of locally refined products, as the current landing price of imported PMS from Lome stands at about N793 per litre, compared to Dangote Refinery’s ex depot/gantry price of N774 per litre.”
Credit: Guardian
The most recent adjustment to the price of the necessary commodity is Tuesday’s drop in the ex-depot price, which analysts said is primarily caused by the exchange rate and the price of crude oil globally, among other factors.
Last year, the PMS pump price was impacted by the commodity’s ex-depot cost, which fluctuated greatly between N700 and over N800 per litre.
The refinery started delivering 650,000 barrels of petrol per day in 2024. The refinery constructed by Nigerian billionaire Aliko Dangote started manufacturing aviation and diesel fuel in January of that year.
