JUST IN: Marketers Reduce Price Of Petrol (See New Price)

The petroleum marketers have announced a reduction in the ex-depot (gantry) price of Premium Motor Spirit, PMS, commonly referred to as petrol, by N65.00.

This is coming after the Dangote Petroleum Refinery, on Wednesday, announced a reduction in the price of petrol, by N65.00.

This means the price will drop from N890 to N825 per litre, effective Thursday, February 27, 2025, a statement by the refinery stated.

According to Dangote, this adjustment is designed to provide essential relief to Nigerians ahead of the Ramadan season.

The statement read, “Dangote Petroleum Refinery has announced a reduction in the ex-depot (gantry) price of Premium Motor Spirit (PMS), commonly referred to as petrol, by N65.00, from N890 to N825 per litre, effective from 27th February 2025.

“This strategic price adjustment is designed to provide essential relief to Nigerians in anticipation of the upcoming Ramadan season, while also supporting President Bola Ahmed Tinubu’s economic recovery policy by alleviating the financial burden on the Nigerian populace.

“It is important to note that Dangote Petroleum Refinery has consistently lowered the prices of petrol and other refined petroleum products to the benefit of Nigerians. This marks the second price reduction of PMS in February 2025, following a previous decrease of N60.00 earlier in the month.”

With the latest reduction, the management of the refinery stated that Nigerians will be able to purchase Dangote petrol at the following prices in all partner retail outlets;

“For MRS Holdings stations, it will sell for N860 per litre in Lagos, N870 per litre in the South-West, N880 per litre in the North, and N890 per litre in the South-South and South-East, respectively,” a statement added.

This is the second PMS price reduction in February 2025, following a previous N60.00 decrease earlier in the month.

In December 2024, the refinery reduced the price of PMS by N70.50, from N970 to N899.50 per litre.