By Our Correspondent
Nigerians have received another boost as Dangote Petroleum Refinery announced a fresh ₦50 reduction in the ex-depot price of Premium Motor Spirit (PMS), bringing the gantry price down from ₦1,125 to ₦1,075 per litre.
The latest adjustment marks the fourth petrol price cut within a month, with the refinery now reducing its ex-depot petrol price by a cumulative ₦200 per litre since late May 2026.
The refinery also announced significant reductions in other petroleum products. The ex-depot price of Automotive Gas Oil (diesel) has dropped by ₦300 per litre, while Jet A1 aviation fuel has recorded an impressive ₦520 per litre reduction over the same period.
According to the refinery, the price cuts reflect lower production costs and declining global crude oil prices. The company stated that it remains committed to passing these savings on to consumers, even as it continues to process some higher-priced crude purchased earlier.
Although motorists may not see an immediate drop in pump prices, industry observers expect filling stations to begin adjusting their prices as marketers exhaust existing fuel stocks bought at higher rates.
The refinery also hinted that Nigerians could enjoy further relief in the coming weeks if international crude oil prices remain favourable and lower-cost crude continues to enter its production cycle.
The latest reduction is expected to ease transportation costs, reduce business operating expenses, and provide much-needed relief to households and industries facing high energy costs.
