Dangote Petroleum Refinery has decreased its ex-depot price of premium motor spirit PMS, commonly referred to as petrol, from N840 per litre to N820 per litre.
This reduction follows a week after the refinery lowered its ex-depot price from N880 to N840 per litre.
In a statement released on Tuesday, Anthony Chiejina, spokesperson for the Dangote Group, announced that the updated price will take effect immediately.
Chiejina said that the ex-depot price "has been lowered from N840 to N820 per litre effective immediately." The spokesperson explained that the previous adjustment to N840 per litre was influenced by fluctuations in the global crude oil market, particularly during the 12 days of geopolitical tensions in the Middle East, which drove up crude prices.
He added that the refinery's current partners-MRS, Heyden, Ardova AP, Hyde, Optima, and Techno Oil-are expected to update their retail prices accordingly.