TRIBUNE
Dangote Petroleum Refinery has announced a reduction in the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, from N950 to N890, effective from Saturday.
This price adjustment is said to be in response to favourable developments in the global energy sector and a significant decline in international crude oil prices. Dangote Refinery said its decision to crash the price reflects its commitment to aligning with market realities and ensuring that consumers benefit from changes in international crude oil prices.
Dangote refinery, in a statement issued by the Group Chief Branding and Communications Officer, Anthony Chiejina, explained that this latest move follows a similar decision made on 19th January, when a modest price increase was implemented due to rising crude oil costs. However, with recent global market trends indicating a decline, Dangote Refinery added that adjusting its pricing structure was a bold move to drive economic relief for Nigerians.
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