Dangote refinery reportedly slashes petrol price to ₦825

The Dangote Petrochemicals Refinery has introduced a ₦10 reduction in the ex-depot price of Premium Motor Spirit (PMS), offering customers a subtle yet impactful reprieve from high petrol costs.

The adjustment brings the effective price down from the official ₦835 per litre to ₦825 per litre.

According to a report by Punch, sources close to the development confirmed on Monday that while marketers still make payments based on the ₦835 per litre rate, a ₦10 rebate is now refunded after successful loading from the refinery.

“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,” one source revealed.

Although the price drop has not been publicly announced by the refinery, the move has allowed petrol marketers sourcing from Dangote to offer slightly lower retail prices, ranging between ₦830 and ₦835 per litre.

This gives them a noticeable competitive advantage over importers and private depots, which continue to sell at comparatively higher prices.

This development follows closely on the heels of two major price cuts in April, when Dangote slashed its gantry price from ₦880 to ₦835 per litre in quick succession, a significant ₦45 reduction within a week.

Efforts to reach Dangote Group’s spokesperson, Anthony Chiejina, for official comments on the rebate scheme were unsuccessful as of press time.