Breaking: Dangote Reduces Petrol Price Again

Dangote Petroleum Refinery has reduced the gantry price of Premium Motor Spirit (PMS), also referred to as gasoline, from ₦835 per litre to ₦825 per litre.
This is the most recent change, according to reports, as the refinery maintains its dominance in the cutthroat domestic market.
Last month, the 650,000 barrels per day refinery lowered the price of gasoline from ₦865 per liter to ₦835 per liter, demonstrating their dedication to providing customers with greater value.

The most recent cut comes after a comparable one that was made previously, from ₦880 to ₦865 per litre, but oil marketers were unable to pass the savings on to customers.

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The latest pricing change, according to Vanguard checks, is intended to strengthen Dangote Refinery’s dominant position in the domestic market, especially as it negotiates the highly competitive gasoline supply market.
The recent drop in global crude oil prices, which have fallen from over $70 per barrel to about $64 per barrel in recent weeks, is reflected in this adjustment.

The refinery has been able to strengthen its market dominance and help consumers by lowering the price of gasoline as a result of the decline in crude oil prices.

Price adjustments at the Dangote Refinery are noteworthy because, as the biggest refinery in Nigeria, it is essential to the country’s energy industry.