The Dangote Petroleum Refinery has reduced the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, from ₦880 to ₦840 per litre.
Spokesman for the Dangote Group, Anthony Chiejina, confirmed the development to Punch on Monday night, stating that the new price took effect from June 30, 2025.
“PMS price has been reduced from ₦880 to ₦840 per litre effective 30th June,” Chiejina said.
Naijaonpoint reports that the reduction comes weeks after the refinery increased the ex-depot price to ₦880, a decision influenced by global oil market instability triggered by the 12-day conflict between Israel and Iran, which pushed crude oil prices close to $80 per barrel.
The earlier hike had caused concerns among independent marketers and consumers, many of whom anticipated fresh price adjustments across the downstream sector starting from July.
With the new ex-depot price in effect, marketers who purchase directly from the Dangote Refinery, including major partners such as MRS, Heyden, and AP, are expected to review and adjust pump prices accordingly in the coming days.
NNPC Retail Price Hits ₦925 Per Litre In Lagos
Despite the cut from the private refinery, Naijaonpoint reports that the Nigerian National Petroleum Company (NNPC) Limited has again increased its retail pump price of petrol to ₦925 per litre at its filling stations in Lagos.
This latest hike, the second in less than a week, comes just two days after the NNPC raised the price to ₦915 per litre, further deepening concerns over fuel affordability.