Dangote Refinery Slashes Petrol Prices, Oil Marketers Respond

Dangote Petroleum Refinery has reduced the price of Premium Motor Spirit (PMS) petrol to N820 per litre, down from the previous price of N850 per litre. The decision to slash prices was made in response to changes in the international crude oil market.

Private depots competing with Dangote Refinery have also revised their prices to attract fuel marketers, with reductions seen across various operators. For example, MRS TinCan dropped its price to N849 from N860, while Ardova reduced its price to N850 from N852.

Dangote Refinery is set to begin distributing PMS and diesel to marketers in August, with plans to invest in Compressed Natural Gas (CNG) infrastructure for seamless product distribution. The refinery will also establish a CNG station supported by a fleet of 100 CNG tankers across the country.