BREAKING: Dangote slashes petrol loading cost to N890 per litre

Barely three weeks after announcing an increase in the cost of loading Premium Motor Spirit, commonly known as petrol, the Dangote Petroleum Refinery has made a surprising move by reducing its ex-depot (gantry) price of petrol, lowering it from N950 to N890 per litre.

In a statement signed by Group Chief Branding and Communications Officer, Anthony Chiejina on Saturday night, the refinery said this strategic adjustment is a direct response to the positive outlook within the global energy and gas markets, as well as the recent reduction in international crude oil prices.

This change takes immediate effect from Saturday, 1st February 2025.

The statement read in parts, “Dangote Petroleum Refinery has reduced the ex-depot (gantry) price of Premium Motor Spirit, commonly known as petrol, from N950 to N890, effective from Saturday, 1st February 2025.

“This strategic adjustment is a direct response to the positive outlook within the global energy and gas markets, as well as the recent reduction in international crude oil prices.

“As part of Dangote Refinery’s unwavering commitment to transparency and fairness, this price revision reflects the ongoing fluctuations in global crude oil markets, as highlighted in the refinery’s statement on 19th January, when a modest increase was implemented due to the previously rising international crude oil prices.”

Punch Newspaper