Dangote Petroleum Refinery has announced a significant reduction in the prices of diesel and aviation fuel to alleviate the burden of high fuel costs on consumers.
Effective immediately, diesel will now be sold at N940 per litre, while aviation fuel will be available at N980 per litre.
This recent price adjustment comes as a response to the persistent demands from oil marketers for a reduction in the cost of diesel. Just a few weeks ago, Dangote refinery had lowered the price of diesel from N1,200 to N1,000 per litre. However, the latest reduction further demonstrates the company’s commitment to providing affordable fuel options amidst the economic challenges faced by Nigerians.
Notably, the revised prices are applicable to dealers purchasing substantial quantities of diesel. Customers buying five million litres and above will benefit from the N940 per litre rate, while those purchasing one million litres and above can obtain it at N970 per litre.
To ensure wider accessibility of these reduced prices, Dangote Petroleum Refinery has established a strategic partnership with MRS Oil and Gas stations. This collaboration guarantees that consumers can purchase fuel at affordable rates across all MRS-operated stations, including major airports. Prices as low as N1,050 per litre for diesel and N980 per litre for aviation fuel can be expected at these locations.
Anthony Chiejina, the spokesperson for Dangote Petroleum Refinery, emphasized the company’s dedication to improving the welfare of Nigerians and expressed their intention to extend this partnership to other major oil marketers. Chiejina stated, “The essence of this is to ensure that retail buyers do not buy at exorbitant prices. The Dangote Group is committed to ensuring that Nigerians have better welfare, and as such, we are happy to announce these new prices. We hope that it would go a long way to cushion the effect of economic challenges in the country.”
While the refinery’s price reductions have been commended by oil marketers, some filling stations continue to sell diesel at higher prices, ranging from N1,350 to N1,450 per litre. Marketers attribute these prices to factors such as transportation costs, taxes, and existing stock in their tanks.
It is important to note that these adjustments in fuel prices are expected to have positive ripple effects on various sectors, including industrial operations, transportation, logistics, and agriculture. The Director-General of the Manufacturers Association of Nigeria, Ajayi Kadiri, lauded Dangote refinery’s efforts, recognizing the potential impact on the national economy and the potential for easing the high inflation rate.
Despite the lingering challenges posed by old stock in filling stations, the Nigerian public looks forward to a more favorable fuel pricing landscape, thanks to Dangote Petroleum Refinery’s ongoing commitment to providing affordable and accessible fuel options.
