In a fresh move that signals intensifying competition in Nigeria’s downstream oil sector, the Dangote Petroleum Refinery has further slashed the gantry price of Premium Motor Spirit (PMS), commonly known as petrol, to N825 per litre, down from the previous price of N835.
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This marks the second price reduction in just over a month by the 650,000 barrels per day refinery, which is Africa’s largest single-train facility. In April, Dangote Refinery dropped the gantry price from N865 to N835 per litre as part of efforts to penetrate the local market and offer relief amid fluctuating pump prices.
Industry observers say the latest adjustment reflects growing market competition and could nudge other players to respond similarly, potentially easing cost pressures on marketers and consumers.
The refinery, commissioned in 2023, is gradually ramping up supply to local marketers and is seen as a key player in reducing Nigeria’s reliance on imported fuel.
Egalitarian Voice will continue to monitor developments in the downstream sector and bring readers timely updates on price trends, supply changes, and regulatory actions affecting the petroleum market.
Market watchers and stakeholders are hopeful that these price drops will soon reflect at the pump and ease the burden on Nigerians grappling with high transportation and living costs.
