BREAKING: Dangote Refinery Cuts Petrol Gantry Price by N75 to N1,175 Per Litre

Dangote Refinery has reduced the gantry price of Premium Motor Spirit (PMS), popularly known as petrol, by N75 per litre.

The latest adjustment brings the ex-depot price down to N1,175 per litre from the previous N1,250 per litre, representing a significant reduction in the cost of the product.

The development is expected to provide some relief to fuel marketers and could influence retail pump prices across the country, depending on distribution costs and market dynamics.

The price cut comes amid ongoing efforts to improve fuel supply and stabilize the downstream petroleum sector following the commencement of large-scale operations at the refinery.

Industry stakeholders are expected to closely monitor the impact of the new pricing structure on petrol availability, competition among marketers, and the overall cost of transportation and goods.

Further details on the implementation and market response are expected in the coming days.