IBRAHIM QUADRI
Oil marketers have slashed the price of Premium Motor Spirit, PMS, also known as petrol from N1,060 to N939.50 per litre.
The decision followed the Dangote Petroleum Refinery which had earlier on Thursday lowered the pump price of petrol to N899.50 per litre, down from N970 per litre.
According to the refinery, this price reduction is intended to offer much-needed relief to Nigerians ahead of the holiday season.
The Chief Branding and Communications Officer of Dangote Group, Anthony Chiejina made this announcement.
“To alleviate transport costs during this holiday season, Dangote Refinery is offering a holiday discount on PMS (petrol). From today, our petrol will be available at N899.50 per litre at our truck loading gantry or SPM,” Chiejina said.
‘‘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.”
As of Thursday, December 19, petrol was still being sold at N1,060 per litre in Lagos and surrounding areas.
However, by Friday, MRS, a leading marketer, along with others, had adjusted their prices, now selling at N939.50 per litre, according to Vanguard report.
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