The Dangote Petroleum Refinery has listened to the calls of oil marketers as regards the reduction in the price of Automotive Gas Oil, popularly called diesel.
On Tuesday, the refinery announced a reduction in the price of diesel from N1,200/litre to N1,000/litre, a development that triggered excitement among operators in the downstream oil sector.
Dangote refinery announced this in a statement issued on Tuesday by its spokesperson, Nduka Chiejina.
The statement read in part, “In an unprecedented move, Dangote Petroleum Refinery has announced a further reduction of the price of diesel from N1200 to N1,000/litre.
“While rolling out the products, the refinery supplied at a substantially reduced price of N1,200/litre three weeks ago, representing over 30 per cent reduction from the previous market price of about N1,600/litre.
“This significant reduction in the price of diesel at Dangote Petroleum Refinery is expected to positively affect all the spheres of the economy and ultimately reduce the high inflation rate in the country.”
The oil marketers pointed out that the product is being landed in Nigeria by some importers at N1,250/litre following the appreciation of the naira against the dollar, adding that this should be another reason why the Dangote refinery that produces diesel in Nigeria should cut down its price.
According to the oil marketers, diesel produced at the Dangote refinery has no vessel cost, import charges, and other costs associated with the costs associated with the importation of the commodity into Nigeria.
