Dangote Petroleum Refinery has announced a reduction in the ex-depot prices of petrol and diesel, cutting the price of Premium Motor Spirit (PMS) by N50 per litre and Automotive Gas Oil (AGO), also known as diesel, by N80 per litre.

The new prices take effect from Thursday, August 6.

Under the revised pricing structure, the ex-depot price of petrol has been reduced from N1,215 to N1,165 per litre, while diesel will now sell at N1,570 per litre, down from N1,650 per litre.

Announcing the price adjustment in a statement on Wednesday, the refinery said the move underscores its commitment to making high-quality petroleum products more affordable for Nigerians.

“Dangote Petroleum Refinery has announced a reduction in the ex-depot prices of Premium Motor Spirit (PMS) and Automotive Gas Oil (Diesel), effective Thursday, August 6, thereby reaffirming its commitment to providing affordable, high-quality petroleum products to the Nigerian market,” the statement said.

It added that the latest review reflects the refinery’s drive to improve energy affordability, expand access to refined petroleum products and support economic activities nationwide.

“The price review reflects Dangote Refinery’s ongoing efforts to enhance energy affordability, improve access to refined petroleum products and support economic activities across Nigeria. The refinery remains committed to ensuring stable supply while leveraging operational efficiencies to deliver value to consumers, businesses and stakeholders,” the company said.

The refinery also reaffirmed its strategic role in strengthening Nigeria’s energy security by reducing dependence on imported fuel and ensuring a steady supply of refined petroleum products.

“As Africa’s largest refinery, Dangote Petroleum Refinery continues to play a pivotal role in strengthening Nigeria’s energy security, reducing reliance on imports and supporting the nation’s economic development through the supply of world-class petroleum products,” it stated.

The company further pledged to continue passing the benefits of improved operational efficiency to consumers whenever market conditions permit, while reaffirming its commitment to supporting Nigeria’s economic growth.