Dangote refinery’s diesel supply lowers pump prices

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The pump price of Automotive Gas Oil (diesel) in Nigeria has witnessed a significant drop from around N1,700/litre to approximately N1,350/litre in various locations across the country.

This decrease follows the commencement of diesel sales by the Dangote Petroleum Refinery, valued at $20 billion.The refinery has been supplying diesel to registered oil marketers since last Wednesday, selling a minimum of one million litres to each marketer. The product is being dispensed to marketers at prices ranging from N1,225/litre to N1,300/litre, depending on the volume of purchase.

Furthermore, officials of the refinery have indicated plans to release Premium Motor Spirit (PMS) to the domestic market starting in May this year. The move is expected to further impact fuel prices in the country and improve availability of petroleum products for consumers.

Source: Business Day

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