Dangote Refinery has lowered the ex-depot price of Premium Motor Spirit (petrol) to N835 per litre, down from N865, marking a reduction of N30. This is the third price cut in less than six weeks.
The new price represents a 3.5% decrease from the previous rate and a total drop of N45 compared to the N880 per litre recorded just last Wednesday.
The price adjustment was confirmed in a customer notice issued by the refinery on Wednesday.
The revised price was also verified through a Pro forma invoice and data from petroleumprice.ng, including charges from the Nigerian Midstream and Downstream Petroleum Regulatory Authority.
This price reduction comes after the landing cost of imported petrol dropped to N853 per litre on Tuesday, leading to expectations of a local price adjustment.
Additionally, fuel supply is expected to improve, with approval granted for marketers to import 117,000 metric tonnes (approximately 156.9 million litres) of petrol between April 8 and 16, as confirmed by documents from the Nigerian Ports Authority and the Major Energies Marketers Association of Nigeria.
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