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By Ayo Kehinde
The oil oil refinery has again cut the price of the premium motor spirit (PMS), popularly known as petrol, at N825 per liter, at the level of its previous N835 rate.
The latest price cut, which reflects a reduction of N10, comes a few weeks after the refinery has reduced the price of gantry from N865 to N835 per liter on 11 April.
The sources of the sector attribute the reduction to a significant drop in the global raw prices, which have now dropped below $ 64 per barrel. The move also follows a renewed collaboration between the Dangote Group and the Nigerian National Petroleum Company Limited (NNPC).
The reviews revised were communicated to marketers and oil customers through an official notice issued on Monday.
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