The Dangote Petroleum Refinery has reduced the price of petrol for the fourth time in four weeks, following a decline in global crude oil prices.
The latest adjustment lowers the gantry price of Premium Motor Spirit (PMS) to ₦1,075 per litre, down from ₦1,250. This represents a ₦50 reduction in the most recent cut and a cumulative drop of over ₦200 per litre since late May.
In addition, the refinery slashed the ex-depot price of Automotive Gas Oil (diesel) by ₦300 per litre and Jet A1 aviation fuel by ₦520 per litre.
The company said the repeated price cuts reflect its commitment to passing on the benefits of favorable market conditions to Nigerians while maintaining sustainable refining operations.
According to the refinery, current fuel supplies are being produced from crude oil purchased at higher prices, noting that its pricing strategy is based on actual production and inventory costs rather than short-term global market fluctuations.
The refinery also highlighted its role in strengthening Nigeria’s energy security, stating that its output is sufficient to meet domestic demand, reduce reliance on imports, conserve foreign exchange, and stabilize fuel prices for consumers and businesses.
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