The Dangote Petrochemicals Refinery has implemented a further reduction in the ex-gantry price of Premium Motor Spirit (PMS), popularly known as petrol, lowering it below the previously announced N835 per litre.

Sources confirmed on Monday that the refinery has adjusted its effective price to N825 per litre through a N10 rebate, which is applied after marketers successfully load and evacuate products from the refinery. Although marketers continue to pay the official N835 per litre upfront, the N10 refund is processed upon completion of loading.

This discreet price adjustment has enabled marketers to retail petrol at a more competitive range of N830 to N835 per litre, effectively undercutting prices offered by importers and private depot owners.

An industry official familiar with the development said, “The Dangote refinery has started giving a rebate on its products. It’s not an official reduction yet, but it is reimbursed after marketers purchase products from them.”

Last month, the refinery reduced its gantry price twice within one week, cutting it by N45 from N880 to N835 per litre. The reductions followed the reinstatement and full execution of the Naira-for-Crude agreement between the refinery and local crude suppliers, after an earlier suspension.

Efforts to obtain an official comment from Dangote Group spokesperson, Anthony Chiejina, on the latest price adjustment were unsuccessful.