The move follows a decline in global crude oil prices, which have slipped to around $67.50 per barrel from above $70, prompting downward adjustments across the Nigerian downstream oil market.
According to findings by First News, the refinery’s price cut appears to be a strategic step to stay ahead of competing private depots that have been slashing rates in recent days.
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Checks on petroleumprice.ng also confirmed the revised rate, placing Dangote slightly below several Lagos depots such as Aiteo, Menj, Mao, and Aipec, which were offering PMS at ₦860 per litre on Monday.
