Dangote Refinery has slashed the petrol price to ₦820 per liter, marking a significant reduction in fuel costs for Nigerians.
This latest price cut is part of the refinery’s efforts to stabilize fuel prices and increase supply in the country.
The Dangote Refinery had previously reduced its ex-depot price from ₦880 to ₦840 per liter on June 30, following a drop in global crude oil prices.
This move was aimed at passing the benefits of lower crude oil prices to consumers.
The refinery’s decision to reduce prices is also driven by its increased production capacity and the implementation of the naira-for-crude deal, which allows for more efficient refining and distribution of petroleum products.
The price reduction has led to a decrease in petrol prices across various filling stations in Nigeria.
While the prices vary depending on the region, some filling stations are now selling petrol at prices ranging from ₦875 to ₦890 per liter.
The regional prices are as follows:
Lagos: ₦875-₦885 per lite, South-West: ₦885-₦895 per liter.
North-West and North-Central ₦895-₦905 per liter, South-South, South-East, and North-East ₦905-₦915 per liter.
The reduction in petrol prices is expected to have a positive impact on the economy and consumers.
With lower fuel costs, businesses and individuals can enjoy reduced transportation costs, which may lead to lower prices for goods and services.
Additionally, the increased supply of petroleum products is expected to alleviate fuel shortages and reduce the long queues often seen at filling stations.
The Dangote Refinery’s efforts to reduce prices and increase supply are part of its commitment to providing high-quality petroleum products to Nigerians.
The refinery has assured a steady supply of petroleum products, and more independent marketers have joined the list of distributors retailing Dangote Refinery’s products across the country.
In conclusion, the Dangote Refinery’s decision to slash petrol prices to ₦820 per liter is a significant development that is expected to benefit consumers and the economy.
With the refinery’s increased production capacity and efficient distribution network, petrol prices are likely to remain stable in the near future.
The Dangote Refinery has indeed reduced the price of petrol, but the current price is not exactly ₦820 per liter as claimed.
According to recent reports, Dangote Refinery slashed its ex-depot price to ₦840 per liter from ₦880 per liter.
This reduction took effect on June 30, and many filling stations have since adjusted their prices.
