In a significant relief for Nigerian consumers, the Dangote Refinery has reduced the ex-gantry price of Premium Motor Spirit (PMS), commonly known as petrol, by ₦75 per litre.
The new price now stands at ₦1,200 per litre, down from ₦1,275. The adjustment takes immediate effect at the refinery’s loading facilities.
This latest price reduction marks another positive step by Africa’s largest refinery toward making refined petroleum products more affordable for Nigerians amid ongoing economic pressures.
Industry observers view the move as a demonstration of the refinery’s commitment to stabilizing domestic fuel supply and pricing.
The ex-gantry price refers to the cost at the refinery’s loading point before additional expenses such as transportation, storage, and dealer margins are added, which ultimately determine the final retail pump price across the country.
Dangote Refinery has been gradually adjusting its PMS prices in response to global crude oil trends, improved local refining efficiency, and efforts to compete effectively in the deregulated fuel market.
Consumers and marketers are expected to see corresponding reductions in pump prices in the coming days, depending on logistics and distribution costs in different regions.
This development comes as many Nigerians continue to grapple with high living costs, making the price cut a welcome relief at the pumps.
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