Dangote Petroleum Refinery has announced a reduction in the ex-depot prices of petrol and diesel, lowering the cost of Premium Motor Spirit (PMS) by ₦50 per litre and Automotive Gas Oil (AGO), also known as diesel, by ₦80 per litre.
Under the new pricing structure, the ex-depot price of petrol has been reduced from ₦1,215 to ₦1,165 per litre, while diesel now sells at ₦1,570 per litre, down from ₦1,650.
The refinery disclosed the price review in a statement issued on Wednesday.
“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 statement read.
The company said the latest price adjustment is part of its efforts to make energy more affordable, improve access to refined petroleum products and support economic activities across the country.
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It also reiterated its commitment to maintaining a stable supply of petroleum products while using operational efficiencies to create value for consumers and businesses.
“As Africa’s largest refinery, Dangote Petroleum Refinery continues to play a pivotal role in strengthening Nigeria’s energy security, reducing reliance on imports, and supporting the nation’s economic development through the supply of world-class petroleum products,” the statement added.
The refinery further assured Nigerians that it would continue to support economic growth by passing on the benefits of improved operational efficiency to consumers whenever market conditions allow.