Dangote Petroleum Refinery and Petrochemicals has announced fresh reductions in the prices of Premium Motor Spirit (PMS), also known as petrol, and Automotive Gas Oil (AGO), commonly referred to as diesel.
A source familiar with the development showed that the refinery has lowered the gantry price of petrol by N25 per litre, bringing it down from N1,275 to N1,250 per litre.
The source also disclosed that the price of Automotive Gas Oil (diesel) has been reduced by N100 per litre. The product will now sell at N1,700 per litre at the gantry, down from the previous N1,800 per litre.
The latest price reduction comes about three weeks after reports emerged that Dangote Refinery had increased the ex-gantry price of petrol.
At the time, a credible inside source disclosed that petrol continued to sell at N1,275 per litre at the refinery, hours after reports claimed that the company had raised its petrol price by N75 amid fluctuations in global crude oil prices.
