Dangote Petroleum Refinery has lowered the ex-depot/gantry pricing of Premium Motor Spirit from N799 to N774 per litre by reducing the gantry price by N25 per litre. The refinery confirmed that the new cost is effective immediately across the country when it informed marketers of the price change on Tuesday. “This is to notify you of a change in our PMS gantry price from N799 per litre to N774 per litre,” noted the refinery.
“The adjustment further strengthens the competitiveness of locally refined products, as the current landing price of imported PMS from Lome stands at about N793 per litre, compared to Dangote Refinery’s ex depot price of N774 per litre.”
Two weeks ago, the refinery declared that the ex-gantry price will rise from N699 to N799 per liter. As a result, MRS Oil Nigeria Plc retail stores will now sell petrol for N839 per litre nationwide.
According to the refinery, the change came after a brief festive price support intervention that was put in place to lessen the effects of the harsh economy during the holiday season, which was marked by increased household spending.
Dangote Refinery claimed to have incurred large costs during the intervention in the interest of the country, including a price cut meant to encourage affordability and market stability. According to the corporation, the action was required to promote stability, affordability, and long-term sustainability in the downstream petroleum market.
