Dangote Petroleum Refinery has reduced the ex-depot price of Premium Motor Spirit, also known as petrol, by N100 per litre. The new price is N1,075 per litre, down from N1,175 following a decline in global crude oil prices.
The adjustment comes as crude oil prices dropped by about 12.26 percent to $83.15 cents per barrel. The refinery also reduced the price of Automotive Gas Oil, commonly known as diesel, to N1,430 per litre from N1,620.
According to the refinery’s latest pricing template released on March 10, petrol supplied through coastal distribution will now sell for N1,050 per litre. The company noted that the listed gantry prices do not include statutory charges from the Nigerian Midstream and Downstream Petroleum Regulatory Authority.
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Meanwhile, some private depots have also reduced their prices to around N1,070 naira per litre.
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