Depot prices of Premium Motor Spirit (PMS), popularly known as petrol, across Nigeria are expected to decline as global oil prices tumbled on Tuesday, with Brent crude slipping below the $80-per-barrel mark for the first time since March 2026, as investors reacted positively to signs of a breakthrough in negotiations between the United States and Iran and the anticipated reopening of the Strait of Hormuz.
Some of those gains are already gradually coming to life even as Dangote Refinery reduced fuel
…First time since March 2026
Depot prices of Premium Motor Spirit (PMS), popularly known as petrol, across Nigeria are expected to decline as global oil prices tumbled on Tuesday, with Brent crude slipping below the $80-per-barrel mark for the first time since March 2026, as investors reacted positively to signs of a breakthrough in negotiations between the United States and Iran and the anticipated reopening of the Strait of Hormuz.
Some of those gains are already gradually coming to life even as Dangote Refinery reduced fuel