Dangote Petroleum Refinery has announced a reduction in the ex-depot prices of Premium Motor Spirit, popularly known as petrol, and Automotive Gas Oil, also called diesel.
Industry sources familiar with the development disclosed on Saturday that the refinery reviewed its petrol loading price downward by N25 per litre, reducing it from N1,275 to N1,250 per litre.
The source further revealed that the refinery slashed the gantry price of diesel by N100 per litre, bringing the cost down from N1,800 to N1,700 per litre.
The latest adjustment is expected to provide some relief to marketers and consumers amid concerns over rising energy costs and fuel pricing in the country.
The price review comes weeks after speculation emerged that the refinery had increased the ex-gantry price of petrol due to movements in the international crude oil market.
However, a source within the company had at the time dismissed reports of a N75 increase, maintaining that petrol continued to be sold at N1,275 per litre despite fluctuations in global crude oil prices.
The refinery's latest decision signals a shift in pricing, with stakeholders expected to monitor its impact on pump prices across the country in the coming days.
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