Dangote Petroleum Refinery has announced fresh reductions in the ex-depot prices of petrol and diesel, lowering the cost of both products in a move aimed at easing fuel expenses for businesses and consumers across Nigeria.
ADVERTISE HERE:
[email protected]
The latest adjustment reduced the ex-depot price of Premium Motor Spirit (PMS), popularly known as petrol, by N50 per litre to N1,165 from N1,215.
Automotive Gas Oil (AGO), commonly called diesel, also recorded a price cut of N80 per litre, dropping to N1,570 from the previous N1,650.
The company said the review forms part of its broader strategy to improve access to locally refined petroleum products while helping to reduce the financial burden associated with energy costs.
In a statement issued on Wednesday, the refinery explained that the decision reflects its determination to strengthen the domestic fuel market through competitive pricing and consistent supply.
"Our objective is to make quality petroleum products more accessible while supporting economic activities that depend heavily on reliable fuel supplies," the company said.
Dangote Refinery added that it would continue to optimise its operations to create savings that could be transferred to customers whenever market conditions allow.
The company stressed that maintaining a stable supply of refined petroleum products remains one of its top priorities, noting that operational efficiency has enabled it to improve value for consumers, transport operators, manufacturers and other businesses.
It also highlighted the refinery's growing contribution to Nigeria's energy sector, saying increased local refining capacity is helping to reduce dependence on imported petroleum products while improving national energy security.
"We remain focused on building a sustainable refining business that supports Nigeria's economic growth through reliable supply, competitive pricing and world-class products," the statement added.
Industry observers say the latest price reduction could influence fuel prices across the downstream petroleum sector, especially if marketers pass the lower ex-depot costs on to motorists and other end users.
The Dangote Refinery has introduced several price adjustments in recent months as it expands production and seeks to strengthen its position in Nigeria's downstream oil and gas industry.
Post a Comment
Drop Your Comment In The Box Below