Oil marketers slash petrol price by 11.8% to N939.50 per litre

Oil marketers lifting the Premium Motor Spirit, PMS, also known as petrol from Dangote Petroleum Refinery, have slashed the price of the product by 11.8 per cent to N939.50 per litre, from N1,060 per litre.

Some fuel stations in Lagos state have since reflected the new pump price as of this morning December 20. On Thursday, December 19, Dangote refinery announced the reduction in the price of petrol. In his statement, the Chief Branding and Communications Officer of Dangote Group, Anthony Chiejina, stated that the slash in price was effected to provide much-needed relief for Nigerians ahead of the holiday season.

“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.”