Dangote Refinery has reversed the earlier announced ₦75 increase in the depot price of Premium Motor Spirit.
The refinery decided to bring the price back to ₦1,275 per litre instead of N1,350 as earlier announced.
Earlier on Wednesday, May 6, the refinery increased the price of its Premium Motor Spirit – the third upward adjustment within a week.
The development forced marketers to immediately adjust their pricing templates before the refinery reversed the price hike.
Recent hike in the price of petrol has been linked to the ongoing conflict in the Middle East, between the United States-Israel and Iran.
“Sir Bartholomew White Ebe is a Lagos-based media personality, Music Artist, Producer, and a Relationship Coach and independent journalist. With over seven years of experience tracking political developments and cultural shifts in Nigeria, he specializes in local current affairs, grassroots politics, and community-driven reporting across Lagos State. As the founder and chief editor of Snow Multimedia Connect {SNOW TV}, he leads the editorial team to deliver verified, high-impact stories to digital audiences.”
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