The Dangote Refinery has again reduced the price of Premium Motor Spirit, bringing the ex-depot rate down to N835 per litre, a N30 drop from the previous N865 announced just six days ago.
This move, which marks the third price reduction in less than six weeks, reflects a strategic response to the declining landing cost of imported fuel, which recently fell to N853 per litre.
A notice issued to customers on Wednesday confirmed the adjustment, and a Pro forma invoice sighted by reporters supported the change. Further verification on petroleumprice.ng also confirmed the updated pricing.
“This latest price slash is part of our commitment to stabilizing fuel prices and ensuring affordability for Nigerians,” a source at the refinery revealed.
The new price includes charges from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), according to information from the refinery.
Meanwhile, independent marketers have ramped up importation efforts. Between April 8 and 16, they received approval to bring in 117,000 metric tonnes—or approximately 156.9 million litres—of petrol. Documents obtained from the Nigerian Ports Authority and the Major Energies Marketers Association of Nigeria confirmed these figures.
Industry experts anticipate that the downward trend in prices may continue, particularly as domestic refining and supply capacity expand.
