Dangote Refinery has slashed the price of Premium Motor Spirit, PMS, also known as petrol, for the second time in recent weeks.
In a statement released on Thursday, the company’s spokesperson, Anthony Chiejina, announced a new ex-depot price of N899.50 per litre, down from N970.
According to Chiejina, the price reduction aims to ease transport costs during the festive period, adding that to further alleviate transport costs, Dangote Refinery is offering a holiday discount on PMS.
Consumers will also have the opportunity to buy an additional litre of petrol on credit, backed by a bank guarantee from Access Bank, First Bank, or Zenith Bank, for every litre purchased on a cash basis.
Cyber Reporters understands that this price reduction follows a similar move by Dangote Refinery in November, when it reduced petrol prices to N970 per litre.
The Nigerian National Petroleum Company Limited, NNPC, and oil marketers have also recently reduced petrol prices in their retail outlets.
The latest price cut by Dangote Refinery is expected to bring relief to consumers during the holiday season.
With the reduction in petrol prices, transport costs are likely to decrease, making it easier for people to travel and transport goods.
Dangote Refinery’s decision to offer a holiday discount and credit facility is also seen as a welcome move, as it will provide consumers with more flexibility and options when purchasing petrol.
