BREAKING: Dangote Refinery reduces fuel price as crude oil price falls
Dangote Refinery has reduced its Premium Motor Spirit, PMS, gantry price as crude oil prices fell further on Monday. A market survey by DAILY POST showed that the 700,000-barrel-per-day refinery adjusted its fuel price to N1,325 per litre from N1,350. This means that the mega refinery cut its fuel price by N25 per litre in […] BREAKING: Dangote Refinery reduces fuel price as crude oil price falls
Dangote Refinery has lowered its Premium Motor Spirit (PMS) gantry price, reacting to a further drop in crude oil prices on Monday. According to a market survey conducted by DAILY POST, the 700,000-barrel-per-day refinery decreased its fuel price from N1,350 to N1,325 per litre, marking a reduction of N25 per litre. This price reduction is a response to the decline in global crude oil prices, with Brent and West Texas Intermediate (WTI) crude falling by more than 3% to $100.50 and $92.43 per barrel, respectively.
The latest adjustment in fuel prices is anticipated to exert downward pressure on petrol pump prices across the country. Falling crude oil prices are exerting pressure on refiners and Nigerian refineries to cut petrol pump prices, following a two-week period during which fuel prices had increased as crude oil prices surpassed $104 per barrel.
Written by urgent.news from Daily Post Nigeria's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
