Dangote Refinery has reversed its earlier price increase, reducing the depot price of Premium Motor Spirit to N1,275 per litre.
Checks yesterday on the pricing platform, Petroleumprice.ng, revealed that the company has removed the earlier announced N75 increase, bringing the price back to N1,275 per litre.
The company had earlier increased the price by N75 from the previous N1,275 per litre.
This was also confirmed by a senior official of Dangote Refinery, who said the earlier increase in gantry price was implemented across all loading channels.
The development has forced marketers to immediately adjust their pricing templates amid tight supply conditions and shifting cost realities.
A senior official familiar with the development said, “The new pricing template has been activated across the board. All loading points have been updated, and marketers are already responding by adjusting their depot prices. This is not an isolated change; it reflects prevailing supply and cost pressures in the system.”
A senior management official of the Dangote Group recently revealed that the Dangote Petroleum Refinery has been subsidising the petrol and diesel it sells to the Nigerian market.
The fresh increase also comes against the backdrop of the suspension of the issuance of pro forma invoices, which affected normal supply scheduling across its loading system.