Dangote Refinery Cuts Petrol, Diesel Ex-Depot Prices

Dangote Petroleum Refinery has announced a fresh reduction in the ex-depot prices of Premium Motor Spirit (PMS), commonly known as petrol, and Automotive Gas Oil (AGO), otherwise referred to as diesel.

Under the revised pricing structure, the refinery lowered the ex-depot price of petrol by ₦50 per litre, bringing it down from ₦1,215 to ₦1,165 per litre. The ex-depot price of diesel was also reduced by ₦80 per litre, dropping from ₦1,650 to ₦1,570 per litre.

The company disclosed the price adjustment in a statement issued on Wednesday, describing the move as part of its ongoing commitment to making refined petroleum products more affordable for consumers and businesses across Nigeria.

According to the refinery, the latest price review is aimed at improving access to locally refined fuel, supporting commercial activities and easing energy costs for various sectors of the economy.

Dangote Refinery stated that it remains focused on ensuring a steady supply of petroleum products while improving operational efficiency to create long-term value for customers.

The company added that as production efficiency improves and market conditions become more favourable, it will continue to pass the benefits on to consumers through competitive pricing.

It also noted that increasing domestic refining capacity is helping to strengthen Nigeria's energy security by reducing dependence on imported petroleum products and improving the availability of fuel in the local market.

The refinery expressed confidence that its continued investment in local refining will contribute to economic growth, improve fuel distribution nationwide and enhance the stability of Nigeria's downstream petroleum sector.