The Dangote Refinery has once again reduced the price of petrol at its gantry, this time to ₦828 per litre, marking a significant 5.6% decrease from the previous cost of ₦877.
This latest price cut comes barely two months after the refinery’s last reduction, demonstrating its commitment to providing relief to fuel marketers and consumers.
Persecondnews reports that Industry insiders have confirmed that the Nigerian National Petroleum Company (NNPC) Ltd will be supplying the refinery with 650,000 barrels-per-day refinery with five crude shipments set to load in December.
This development is expected to further stabilize the country’s fuel supply and contribute to the downward trend in petrol prices.
The reduction in petrol prices is anticipated to have a ripple effect on the economy, with depot operators in Lagos on Friday already beginning to load at the revised price.
Retail stations are expected to follow suit, passing on the benefits to consumers in the coming days.
In September, the Dangote Petroleum Refinery announced plans to begin direct distribution of Premium Motor Spirit (PMS) to filling stations across Nigeria, with a corresponding reduction in pump prices.
The company had reduced the gantry price to ₦820 per litre, with retail prices varying across states.
The latest price cut is seen as a welcome relief for consumers, who have been grappling with high pump prices in recent weeks.
As the refinery continues to ramp up production, Nigerians can expect more competitive pricing and improved fuel availability.
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