In a strategic move aimed at stabilising the fuel market, Dangote Petroleum Refinery has announced a reduction in the price of Premium Motor Spirit (PMS), popularly known as petrol, from N835 to N825 per litre.
This adjustment, which takes effect immediately, is expected to ease the burden on consumers as the nation continues its drive towards energy self-sufficiency and reduced reliance on imported petroleum products.
According to industry analysts, the price cut has the potential to trigger lower pump prices nationwide, provided marketers transfer the rebate benefits to end-users.
Reliable sources disclosed that the refinery introduced a N10 rebate mechanism for its customers adding that although marketers initially pay N835 per litre, they receive a N10 refund upon successful loading and evacuation of products from the refinery.
This subtle price adjustment enables marketers and Dangote’s customers to retail petrol at a more competitive rate, ranging between N830 and N835 per litre, effectively outpricing private depot owners and import-dependent marketers.
