Dangote Petroleum Refinery & Petrochemicals has announced a significant reduction in its gantry price for Premium Motor Spirit (PMS), commonly known as petrol, to N1,200 per litre, effective immediately. The refinery has also lowered its coastal price to N1,153 per litre. This move is a response to the ongoing tensions in the Middle East, which continue to impact global oil markets .
The adjustment represents a downward review of the refinery’s pricing structure, driven by developments in the global oil market. According to Anthony Chiejina, spokesperson for the Dangote Group, this change is expected to influence fuel supply costs across various distribution channels, including depots and retail outlets.
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The reduction in gantry price is likely to bring relief to fuel marketers and consumers, who have been grappling with elevated pump prices in recent weeks. With this new pricing, marketers are expected to recalibrate their landing costs, particularly those sourcing locally rather than importing.
The coastal price of N1,153 per litre is set to impact marine deliveries to coastal depots, providing an alternative supply route for distributors operating in southern corridors .
