In a major development in the energy sector in Nigeria, Dangote Petroleum Refinery announced that it had lowered the price of gantry for Advanced Sports Spirit (PMS), commonly known as gasoline.
Now, the new former sales price is N835 per liter, which is below N865 per liter, a 3.5% reduction. This marks the second price cut in recent weeks and as global crude oil prices fell, the price fell to $64 a barrel, down from more than $70 a barrel earlier this month.
The refinery had earlier adjusted its price from N880 to N865 per liter. But despite these reductions, many oil marketers have not yet passed the savings to the pump consumers.
With a processing capacity of 650,000 barrels per day, the Dangote refinery continues to reshape Nigeria’s fuel supply dynamics, positioning itself as a key player in achieving energy independence and price stability.
