*The Management of the oil-refining facility announced the company’s latest decision to reduce fuel prices will reinforce the company’s commitment to making refined petroleum products more affordable for energy consumers while supporting economic activities across Nigeria
Alexander Davis | ConsumerConnect
The Dangote Petroleum Refinery and Petrochemicals Limited, Lagos, has announced a fresh reductions in the ex-depot prices of Premium Motor Spirit (PMS), also known as petrol, and Automotive Gas Oil (AGO).
The Management of the oil-refining facility said the move would reinforce the company’s commitment to making refined petroleum products more affordable and supporting economic activities across Nigeria.
The Management of oil-refining facility stated that under the latest price adjustment, they reduced the ex-depot price of PMS to N1,250 per litre from N1,275 per litre, while the price of AGO (diesel) was cut to N1,700 per litre from N1,800 per litre.
The company said the price review came amid the refinery’s continued efforts to improve supply efficiency, deepen domestic refining, and provide cost relief to consumers and businesses that depend heavily on petroleum products for transportation, power generation and industrial operations.
Since commencing operations, the 650,000 barrels per day (bpd) refinery has increasingly supplied the domestic market with refined products aimed at eliminating the country’s dependence on imported fuels.