Dangote Refinery reduces fuel, diesel prices

Respite appears to be on the way for Nigerians as the Dangote Refinery has reduced its gantry premium motor spirit and automotive gas oil prices.

The spokesperson of Dangote Group, Anthony Chijiena, confirmed this to DAILY POST on Saturday.

Accordingly, the 650,000-per-day refinery reduced its petrol to N1,250 per liter from N1,275, while the diesel price was adjusted to N1,700 per liter from N1,800. “We have reduced our PMS price from N1275 to N1250 per litre and AGO from N1,800 to N1,700 per litre,” he told DAILY POST exclusively.

This means that the $20 billion mega refinery reduced its fuel and diesel prices by N25 and N10, respectively.

The downward price adjustment would reflect on the current retail prices of fuel and diesel nationwide, which stood at N1350 and N1,370 (petrol) and above N2000 (AGO).

The development comes amid declining crude oil prices, which dropped to $91 and $87 per barrel for Brent and West Texas Intermediate crude, respectively.