The Dangote oil refinery has announced a reduction in its ex-department of Premium Motor Spirit (PMS), also known as gasoline, from N880 to N840 per liter.
This was confirmed Monday night by group spokesman Anthony Chiejina.
Chiejina said: “The price of PMS has been reduced from N880 to N840 per liter from June 30”.
The price cut occurs only weeks after the refinery increased the cost of the product due to a global increase in crude oil prices caused by the Israel-Iran conflict and the uncertainty surrounding the bombardment of the three Iranian nuclear facilities by the president of the United States, Donald Trump.
During that period, crude oil prices increased to almost $ 80 per barrel with experts that have already been screened to reach $ 130 per barrel depending on Iran's response.
However, previous reports after a high fire in the conflict, they say that marketing specialists anticipated a change in prices from this week.
After the Dangote movement, its distribution partners are expected to, including Mrs. Heyden and AP, adjust the prices of their pumps in line with the new rate.
This will come just a week after the National Petroleum Company (NNPC) Limited increased its gasoline prices at its retail points of sale in Lagos, Abuja and Ibadan for at least N35 to N45 per liter.
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