The Dangote Petroleum Refinery has slashed the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, from N835 to N825 per litre.

The new rate takes effect immediately, signaling a potential drop in pump prices nationwide.Industry sources confirmed on Monday that although marketers still pay N835 per litre at the point of purchase, they now receive a N10 rebate after loading and evacuating products from the refinery.

“This adjustment effectively brings the price down to N825 per litre,” one source revealed. “It’s a strategic move that allows Dangote’s customers to sell petrol at N830 to N835, undercutting importers and other depot owners.”

Analysts believe the price drop could ease pressure on the downstream market. “If marketers pass on the savings, we could see a slight reduction at filling stations,” one expert noted.

The move comes amid Nigeria’s ongoing push to stabilize fuel supply and reduce reliance on imports.