Nigerians may experience some relief at filling stations following Dangote Refinery’s decision to reduce the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol. The refinery recently slashed its gantry price by N75 per litre, bringing the rate down to N1,175 per litre from N1,250.
The adjustment follows a decline in global crude oil prices triggered by easing geopolitical tensions in the Middle East.
Industry analysts believe the reduction could encourage marketers to lower pump prices across the country, easing transportation costs and inflationary pressures on households and businesses. The move also highlights the growing influence of domestic refining on Nigeria’s downstream petroleum sector.
Furthermore, market observers argue that sustained stability in international oil prices could support additional reductions in fuel costs. However, experts caution that exchange rate fluctuations and crude supply challenges remain key factors that could affect future pricing.
As Nigerians continue to grapple with the high cost of living, many stakeholders view the latest development as a positive step toward greater energy affordability and economic stability.
