The Dangote Petroleum Refinery has reduced the cost of loading Premium Motor Spirit (petrol) from N950 to N890 per litre.
This new price takes effect from Saturday, February 1, 2025. The refinery announced the price cut in a statement signed by its Group Chief Branding and Communications Officer, Anthony Chiejina, on Saturday night.
According to the statement, the price adjustment was made in response to positive developments in the global energy and gas markets, as well as a drop in international crude oil prices.
The statement read, “Dangote Petroleum Refinery has reduced the ex-depot (gantry) price of Premium Motor Spirit, commonly known as petrol, from N950 to N890, effective from Saturday, 1st February 2025.”
“This strategic adjustment is a direct response to the positive outlook within the global energy and gas markets, as well as the recent reduction in international crude oil prices.”
The company also emphasized its commitment to fairness and transparency, explaining that its prices reflect changes in global crude oil markets. It recalled that on January 19, the refinery had slightly increased petrol prices due to the rise in international crude oil prices at that time.
With this latest reduction, many Nigerians will be hoping for a decrease in fuel pump prices across the country.
