Dangote Petroleum Refinery has trimmed N25 off the gantry price of Premium Motor Spirit (PMS), dropping its ex-depot rate from N799 to N774 per litre in a move set to heighten competition in Nigeria’s downstream market.
The refinery notified marketers of the adjustment on Tuesday, confirming that the new nationwide price takes immediate effect.
“This is to notify you of a change in our PMS gantry price from N799 per litre to N774 per litre,” the company stated, adding that the revised rate reinforces the competitiveness of locally refined fuel.
With the landing cost of imported PMS from Lomé hovering around N793 per litre, Dangote’s N774 ex-depot price positions its product significantly below imports — tightening pressure on fuel importers and strengthening the case for domestic refining.
The latest cut comes barely two weeks after the refinery raised its ex-gantry price to N799 from N699 per litre, a move that saw MRS Oil Nigeria Plc retail outlets sell petrol at N839 per litre nationwide.
Dangote had explained that the earlier increase followed the conclusion of a temporary festive price support initiative introduced during the yuletide season to cushion consumers amid heightened household spending and economic strain.
According to the refinery, it absorbed substantial costs during that intervention in the national interest, targeting affordability and market stability. The company maintained that its pricing strategy is guided by the long-term sustainability of operations and the broader stability of Nigeria’s downstream petroleum sector.
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