BREAKING: Dangote Refinery reduces fuel price as crude oil price falls

Dangote Refinery has reduced its Premium Motor Spirit, PMS, gantry terms arsenic crude lipid prices fell further connected Monday.

A marketplace survey by DAILY POST showed that the 700,000-barrel-per-day refinery adjusted its substance terms to N1,325 per litre from N1,350.

This means that the mega refinery chopped its substance terms by N25 per litre successful its latest petrol terms reduction.

The improvement comes arsenic Brent and West Texas Intermediate, WTI, crude prices declined by implicit 3 per cent to $100.50 and $92.43 per barrel, respectively, astatine the clip of reporting.

The latest substance terms accommodation is expected to enactment downward unit connected petrol pump prices nationwide.

DAILY POST reports that falling crude lipid prices are mounting unit connected refiners and Nigerian refineries to chopped petrol pump prices.

Recall that substance gantry and pump prices had accrued successful the past 2 weeks arsenic crude lipid prices roseate supra $104 per barrel.

 BREAKING: Dangote Refinery reduces substance terms arsenic crude lipid terms falls