Dangote Refinery Cuts Diesel Prices To N1,000 Per Litre
DIESEL, sometimes referred to as automobile gas oil (AGO), is currently only N1,000 per litre, according to the Dangote refinery.
The refinery said in a statement on Tuesday that the product's price had been lowered from N1,200 per liter.
“In an unprecedented move, Dangote Petroleum Refinery has announced further reduction of the price of diesel to from 1200 to 1,000 naira per litre,” Dangote refinery said.
“While rolling out the products, the refinery supplied at a substantially reduced price of N1,200 per litre three weeks ago, representing over 30 per cent reduction from the previous market price of about N1,600 per 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 development occurs just a few days after the Dangote refinery set a one million liter minimum volume for oil marketers to purchase fuel.
Former President Muhammadu Buhari inaugurated the refinery in May 2023 with a capacity of 650,000 barrels per day (bpd).
Following the receipt of six cargoes of crude from oil marketers, the plant started producing diesel and aviation fuel on January 12.
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