Dangote Refinery slashes Petrol Price: New rate to take effect immediately

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The Dangote Petroleum Refinery has reduced the ex-depot price of Premium Motor Spirit (PMS), also known as petrol, from N880 to N840 per litre. According to Anthony Chiejina, Spokesman for the Dangote Group, the new rate took effect on June 30.

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“PMS price has been reduced from N880 to N840 per litre effective 30th June,” Chiejina confirmed. The price adjustment comes after a previous hike in petrol prices due to the 12-day crisis between Israel and Iran, which raised crude oil prices to almost $80 per barrel

The reduction in petrol prices is expected to have a positive impact on the market, with Dangote’s partners such as MRS, Heyden, and AP likely to adjust their pump prices soon. Marketers had anticipated a new price regime, and the reduction is seen as a welcome development.

New Petrol Price:

– Previous Price: N880 per litre

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– New Price: N840 per litre

The price adjustment is expected to bring relief to consumers and impact the overall fuel market in the country

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