Dangote Petroleum Refinery has reduced the gantry price Premium Motor Spirit, PMS, also known as petrol to ₦825 per litre.
The reduction is from N835 per litre, as competition continues in the domestic market.
Last month, the 650,000 barrels per day refinery reduced the gantry price of petrol to N835 per litre from N865 per litre.
The latest adjustment is targeted at giving customers more value as well as consolidate its leadership position in the domestic market.
Marketers are still paying N835 per litre for products but receive a N10 refund after loading and evacuating them from the refinery.
The covert price adjustment has allowed its customers and marketers to retail the product at a lower band of N830 to N835, outpricing importing marketers and private depot owners.
The official said, “The Dangote refinery has started giving a rebate on its products. It’s not an official reduction yet, but paid back after marketers buy products from them.”
Last month, the Dangote refinery effected a price reduction twice within the space of a week, crashing its gantry price by N45 from N880 to N835 per litre.
This followed the restart and full implementation of the Naira-for-Crude agreement with local refiners after an earlier suspension.
