In a move that may bring slight relief to consumers, Dangote Petroleum Refinery has reduced the gantry price of Premium Motor Spirit (PMS), commonly known as petrol, from ₦835 to ₦825 per litre.
The price adjustment is coming barely a month after the refinery slashed the product’s gantry price from ₦865 to ₦835 per litre.
This latest drop is expected to further influence the cost at some filling stations, especially those with direct purchase agreements from the refinery.
With the local fuel market getting more competitive, the new pricing strategy by Dangote Refinery may be part of efforts to remain attractive.
Meanwhile, consumers are hopeful that this price cut will reflect at retail stations soon and help reduce the pressure on their daily expenses.
The 650,000 barrels per day refinery has continued to gain attention in the energy space, not only for its size but also for its regular pricing revisions.
Though no official statement has been released yet regarding the expected pump price at independent stations, industry watchers believe the price drop will slowly make its way to consumers.
