Dangote Refinery has reduced the ex-depot price of Premium Motor Spirit (petrol) to N835 per litre, down from N865, marking a N30 decrease and its third price cut in less than six weeks.
The new rate reflects a 3.5% reduction from the previous price and a total drop of N45 compared to the N880 per litre cost recorded last Wednesday.
This development was confirmed in a customer notice issued by the refinery on Wednesday. A Pro forma invoice reviewed by PUNCH Online, along with data from petroleumprice.ng, verified the new pricing, which includes charges from the Nigerian Midstream and Downstream Petroleum Regulatory Authority.
The price cut follows a drop in the landing cost of imported petrol to N853 per litre on Tuesday, raising expectations of a local price adjustment.
Meanwhile, fuel supply is set to improve as marketers received approval to import 117,000 metric tonnes (about 156.9 million litres) of petrol between April 8 and 16, according to documents from the Nigerian Ports Authority and the Major Energies Marketers Association of Nigeria.