The Dangote Petroleum Refinery has announced a new official pump price of ₦739 per litre for Premium Motor Spirit (PMS), commonly known as petrol.
The price declaration marks a significant moment as the refinery begins large-scale domestic distribution of its refined products. In a statement, the company attributed the pricing to current international crude oil costs, refining expenses, and logistical considerations, while aiming to offer a measure of price stability in the market.
The new rate is expected to influence pricing across the country and is seen as a direct challenge to the existing pricing structure dominated by imports. Market analysts will closely monitor how other marketers respond to this benchmark set by Africa’s largest refinery.
Disclaimer:
This report is based on an official price announcement from Dangote Petroleum Refinery. The price is subject to change based on fluctuations in international crude oil markets and other economic variables.
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