The Dangote Petroleum Refinery has announced a reduction in the gantry price of Premium Motor Spirit (PMS), commonly referred to as petrol, from ₦1,275 to ₦1,250 per litre. This adjustment signifies a two percent decrease in price. Market checks reported by Vanguard indicate that this change comes in response to increasing competition within Nigeria's deregulated downstream petroleum sector, alongside a decline in crude oil prices.
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