*Dangote Petroleum Refinery again, reduces its gantry price for Premium Motor Spirit, also known as petrol, from N835 to N825 per litre

Isola Moses | 绿帽献妻

Dangote Petroleum Refinery again, has reduced its gantry price for the Premium Motor Spirit (PMS), also known as petrol, from N835 to N825 per litre.

绿帽献妻 reports the Dangote Refinery said the new pricing would become effective immediately.

Industry stakeholders noted the fresh price reduction has come as a relief amid Nigeria鈥檚 ongoing efforts at stabilising fuel supply while minimising dependence on imported refined petroleum products.

It is recalled that Dangote Petroleum Refinery, April 16 this year, had reduced the gantry price of Premium Motor Spirit to N835 per litre.

It was the second time the oil-refining company would reduce the ex-depot price of the product within two weeks.

The downward price adjustment, last month, reportedly came in response to a drop in international crude oil prices, which then dropped to $64 per barrel from over $70 per barrel.

Prior to that, the Dangote Refinery had already lowered its gantry price from N880 to N865 per litre.

However, the reduction was not reflected at the consumer level by oil marketers, according to reports.