By Udeme Akpan
Dangote Petroleum Refinery has slashed the ex-depot price of Premium Motor Spirit, PMS, also known as petrol, to ₦1,075 per litre, from ₦1,125 per litre, in a move expected to trigger another round of price reductions across Nigeria’s downstream petroleum market.
The refinery also aligned its coastal loading price at ₦1,075 per litre and suspended its consortium marketing arrangement, effectively opening petrol loading at its gantry to all qualified marketers.
The suspended consortium comprised NIPCO Plc/11 Plc, MRS, TotalEnergies, Conoil, AA Rano, AYM Shafa, Rainoil/Eterna, Ardova Plc, NNPC Retail and other participating marketers.
Industry sources said the latest decision is aimed at making locally refined petrol more competitive than imported products, while broadening access to supplies for marketers nationwide.
