The Dangote Petroleum Refinery has announced a reduction in the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, bringing the rate down from N880 to N840 per litre.
Spokesman for the Dangote Group, Anthony Chiejina, confirmed the price adjustment on Monday night according to The PUNCH. He said the new pricing became effective on June 30, 2025.
“PMS price has been reduced from N880 to N840 per litre effective 30th June,” Chiejina said.
It will be recalled that the biggest refinery in Africa had previously raised the price of petrol to N880 per litre during heightened tensions in the Middle East.
The 12-day crisis between Israel and Iran had caused global crude oil prices to surge, with Brent crude nearing $80 per barrel. Petroleum marketers were expecting a fresh price regime at the start of the week after the crisis.
In light of the new development, Dangote’s key partners, including MRS, Heyden, and AP, are anticipated to adjust their pump prices in line with the refinery’s latest directive.
