Get Guardian on GoogleDangote Petroleum Refinery & Petrochemicals has announced another reduction in the ex-depot price of Premium Motor Spirit (PMS), marking its fourth price cut within a month.
Announcing the reduction in a statement on Thursday, the company said it continues to pass lower production costs to consumers despite still processing crude oil purchased at significantly higher international prices.
The latest N50 per litre reduction brings the cumulative decrease in the refinery’s PMS ex depot price to N200 per litre since May 30, 2026, reducing the gantry price to 1, 075.
Over the same period, the refinery has reduced the ex-depot price of Automotive Gas Oil (AGO) by N300 per litre and Jet A1 aviation fuel by N520 per litre.
Official statement and cargo tables show the refinery processed higher-cost crude at $124.80/bbl in May and $95.25/bbl in June, allowing phased price moderation as lower-cost inventories replace earlier expensive purchases.
The move underscores Dangote Refinery’s aim to pass efficiencies to Nigerian consumers and enhance domestic refining stability despite global oil volatility and past higher feedstock costs.
“Dangote Refinery’s successive reductions demonstrate its commitment to ensuring Nigerians benefit from favourable market developments while maintaining the long-term sustainability of domestic refining operations,” the statement added.
