Oil marketers sourcing Premium Motor Spirit (PMS), also known as petrol, from the Dangote Petroleum Refinery have reduced the price by 11.8%, bringing it down to N939.50 per litre from the previous N1,060 per litre.
As of yesterday, oil marketers were still selling petrol at N1,060 per litre, according to Vanguard’s observations in Lagos and surrounding areas.
However, today’s checks revealed that MRS, a major marketer, and others had adjusted their pump prices accordingly.
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When reached for comment, MRS Chairman Alhaji Sayyu Idris Dantata declined to provide a statement.
However, a visit to the company’s filling station in Ojota, Lagos, confirmed that MRS has now adopted the new price of N939.50 per litre.
Meanwhile, Dangote Petroleum Refinery has also reduced its ex-pump price of petrol to N899.50 per litre, down from N970 per litre.
The refinery stated that the price reduction was aimed at providing much-needed relief for Nigerians ahead of the holiday season.
In his statement, the Chief Branding and Communications Officer of Dangote Group, Anthony Chiejina, stated: “To alleviate transport costs during this holiday season, Dangote Refinery is offering a holiday discount on PMS. From today, our petrol will be available at N899.50 per litre at our truck loading gantry or SPM.
‘‘Furthermore, for every litre purchased on a cash basis, consumers will have the opportunity to buy another litre on credit, backed by a bank guarantee from Access Bank, First Bank, or Zenith Bank.”
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