The Dangote Petroleum Refinery has announced a reduction in the cost of loading Premium Motor Spirit, commonly known as petrol, from N950 to N890 per litre.
The new price takes effect from Saturday, February 1, 2025.
In a statement issued late on Saturday and signed by the Group Chief Branding and Communications Officer, Anthony Chiejina, the refinery attributed the price cut to favorable developments in the global energy and gas markets, as well as a decline in international crude oil prices.
The statement read: “Dangote Petroleum Refinery has reduced the ex-depot (gantry) price of Premium Motor Spirit from N950 to N890, effective from Saturday, 1st February 2025.”
The refinery further explained that the adjustment was made in response to a positive outlook in global energy markets and the recent drop in international crude oil prices.
The company also reaffirmed its commitment to fairness and transparency, noting that price changes reflect fluctuations in the global crude oil market.
It recalled that on January 19, 2025, it had slightly increased petrol prices due to rising international crude oil prices.
