DANGOTE REFINERY SLASHES PETROL GANTRY PRICE BY 75 NAIRA.

Dangote Petroleum Refinery has slashed the gantry price of Premium Motor Spirit (petrol) by 75 naira per litre.

The refinery announced that the new gantry price is now 1,175 naira per litre, down from 1,250 naira per litre, with the new rate taking effect from midnight yesterday, while the coastal price per metric tonne was also reduced.

In a circular issued to fuel marketers, the refinery stated that the price adjustment followed the easing of tensions in the Middle East, which had influenced energy prices over the past months.

The latest price cut comes amid improving conditions in the global oil market following reports of ongoing negotiations between the United States and Iran on the reopening of the Strait of Hormuz.