Dangote Petroleum Refinery has reduced the ex-depot price of Premium Motor Spirit (PMS), also known as petrol, from N880 to N840 per litre.
Gatekeepers News reports that the price adjustment, confirmed by Anthony Chiejina, Spokesman for the Dangote Group, took effect on June 30.
“PMS price has been reduced from N880 to N840 per litre effective 30th June,” Chiejina told The PUNCH on Monday night.
The reduction comes after a recent hike in petrol prices to N880, which was triggered by the 12-day crisis between Israel and Iran that saw crude oil prices surge to almost $80 per barrel.
As a result of this new development, Dangote’s partners, including MRS, Heyden, and AP, are expected to adjust their pump prices soon.
