The Dangote Petroleum Refinery has reduced its ex-gantry price of Premium Motor Spirit, popularly known as petrol, from N1,125 per litre to N1,075 per litre, The PUNCH reports.
The latest adjustment represents a N50, or 4.4 per cent, reduction from the previous price and is expected to further intensify competition in Nigeria’s downstream petroleum sector.
The new N50-per-litre ex-gantry price reduction marks the second cut within seven days, bringing the price down from N1,175 to N1,125 per litre and now to N1,075 per litre.
Findings by The PUNCH on Thursday showed that the refinery also aligned its coastal loading price with the ex-gantry price at N1,075 per litre, effectively removing the earlier price differential between coastal and gantry sales.
A senior official of the Dangote Petroleum Refinery, who confirmed the development to our correspondent on condition of anonymity because he was not authorised to speak publicly, said the new pricing regime took effect immediately.
