Dangote Slashes PMS Price By N25 Per Litre

Dangote Petroleum Refinery has reduced the gantry price of Premium Motor Spirit by N25 per litre, lowering its ex-depot/gantry rate from N799 to N774 per litre.

The refinery communicated the price adjustment to marketers on Tuesday, confirming that the new rate 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,” noted the refinery.

“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 price of N774 per litre.”

The development comes two weeks after the refinery announced an increase in the ex-gantry price to N799 per litre from N699, making MRS Oil Nigeria Plc retail outlets to sell petrol at N839 per litre nationwide.

The refinery had explained that the adjustment followed the conclusion of a temporary festive price support intervention introduced to cushion the impact of the biting economy during the yuletide period, characterised by heightened household spending.

During the intervention, Dangote Refinery said it absorbed significant costs in the national interest, including a price reduction aimed at promoting affordability and market stability.

The company described the move as necessary to support long-term sustainability, affordability and stability in the downstream petroleum market.