Dangote Petroleum Refinery and Petrochemicals has announced a fresh reduction in the prices of Premium Motor Spirit (PMS), popularly known as petrol, and Automotive Gas Oil (AGO), commonly referred to as diesel.
According to the refinery, the ex-gantry price of petrol has been reduced by N25 per litre, dropping from N1,275 to N1,250 per litre. The company also cut the price of diesel by N100 per litre, bringing the ex-gantry price down from N1,800 to N1,700 per litre.
The latest adjustment is expected to provide some relief to fuel marketers and consumers amid ongoing fluctuations in the downstream petroleum sector.
The price reduction comes just weeks after reports indicated that the Dangote Refinery had increased the ex-gantry price of petrol, making the latest move a notable reversal in its pricing strategy.
