The Dangote Petroleum Refinery has announced a reduction in the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, from N880 to N840 per litre.
According to PUNCH, this adjustment was confirmed on Monday night by Anthony Chiejina, spokesperson for the Dangote Group, who said the new pricing took effect from June 30.
“PMS price has been reduced from N880 to N840 per litre effective 30th June,” Chiejina said.
Recall that the Dangote refinery had previously increased its petrol price to N880 per litre. This hike occurred as tensions escalated during the 12-day crisis between Israel and Iran, which concurrently drove the price of crude oil to almost $80 per barrel.

Following these developments, marketers have been anticipating a new price regime, expected to take effect from Monday. Consequently, Dangote’s key partners, including MRS, Heyden, and AP, are also expected to adjust their pump prices soon.