The Dangote Petroleum Refinery has announced a fresh reduction in the ex-depot prices of Premium Motor Spirit (PMS), popularly known as petrol, and Automotive Gas Oil (AGO), otherwise known as diesel, in a move aimed at easing energy costs and boosting economic activities across the country.
Under the revised pricing regime, the refinery cut the ex-depot price of petrol by ₦50 per litre, lowering it from ₦1,215 to ₦1,165. Diesel also recorded a reduction of ₦80 per litre, with the price dropping from ₦1,650 to ₦1,570.
The new prices were announced in a statement issued on Wednesday by the Dangote Group, which said the adjustment underscores the refinery’s commitment to making refined petroleum products more affordable and accessible to Nigerians.
According to the company, the latest review is part of broader efforts to enhance energy affordability, expand access to quality petroleum products and stimulate economic growth.
The refinery also reaffirmed its resolve to maintain a stable supply of fuel while improving operational efficiency to deliver greater value to consumers, businesses and other stakeholders.
It noted that whenever market conditions permit, the gains from improved operational performance would continue to be transferred to consumers through lower prices.
The company further highlighted the refinery’s strategic role in strengthening Nigeria’s energy security, reducing dependence on imported petroleum products and supporting national economic development through the production and distribution of high-quality refined products.
The statement read in part: “Dangote Petroleum Refinery has announced a reduction in the ex-depot prices of Premium Motor Spirit (PMS) and Automotive Gas Oil (Diesel), reaffirming its commitment to providing affordable, high-quality petroleum products to the Nigerian market.**
“Under the new pricing structure, the refinery has reduced the ex-depot price of PMS to N1,165 per litre, down from N1,215 per litre, representing a reduction of N50 per litre. Similarly, the ex-depot price of Diesel has been reduced to N1,570 per litre from N1,650 per litre, amounting to a decrease of N80 per litre.
“The price review reflects Dangote Refinery’s ongoing efforts to enhance energy affordability, improve access to refined petroleum products, and support economic activities across Nigeria.”
(Ripples)