The Dangote Petroleum Refinery has officially announced a reduction in the ex-depot (gantry) price of Premium Motor Spirit (PMS), commonly known as petrol. The new price has been slashed from N950 to N890 per litre. This price change, which reflects a significant reduction in fuel costs, will take immediate effect starting from Saturday, 1st February 2025.
The announcement was made through a statement issued on Saturday night by the Group’s Chief Branding and Communications Officer, Anthony Chiejina. The statement further explained that the price adjustment came in response to positive developments in the global energy and gas markets, as well as the recent decrease in international crude oil prices.
In the statement, Dangote Petroleum Refinery elaborated on the reasons for the price change: “Dangote Petroleum Refinery has reduced the ex-depot (gantry) price of Premium Motor Spirit, commonly known as petrol, from N950 to N890, effective from Saturday, 1st February 2025. This strategic adjustment is a direct response to the positive outlook within the global energy and gas markets, as well as the recent reduction in international crude oil prices.”
The company also highlighted that this move is consistent with its commitment to maintaining transparency and fairness in its pricing structure. As part of Dangote Refinery’s ongoing efforts to stay in tune with the global energy market fluctuations, the statement referenced a previous revision on 19th January, which saw a modest price increase due to rising international crude oil prices at that time.
