By Deborah Nnamdi
In a notable update, Dangote Petroleum Refinery has announced another cut in the gantry price of Premium Motor Spirit (PMS), commonly known as petrol.
The new rate stands at N835 per litre, down from the previous N865, reflecting a 3.5% reduction. This adjustment comes in response to a recent drop in global crude oil prices, which have fallen from over $70 to $64 per barrel in recent weeks.
Earlier, the refinery had lowered its gantry price from N880 to N865 per litre, but the benefit was not passed on to consumers by oil marketers.
With a processing capacity of 650,000 barrels per day, Dangote Refinery remains a key player in Nigeria’s energy sector.
