Breaking: Dangote Increases Diesel-Prices Following Recent Naira-Depreciation

The Dangote Petroleum Refinery has increased the price of diesel from ₦940 per litre to ₦1,100 per litre, responding to the continuous depreciation of the Nigerian naira against the US dollar…CONTINUE READING

Ireporteronline had earlier reported that the Dangote refinery had reduced the diesel prices to ₦940/litre. This decision followed consultations with oil marketers and an initial price reduction from ₦1,200/litre to ₦1,000/litre on April 17.

This move indicates the refinery’s strategic adjustments in response to operational demands and market conditions.

In addition to the diesel price update, the refinery has announced its plans to commence the distribution of Premium Motor Spirit (PMS), commonly known as petrol, domestically starting next month.

This development is seen as a potential game-changer in reducing Nigeria’s dependency on imported petrol.

Oil marketers have reacted positively to the announcement, expressing hope that the refinery’s entry into the petrol market could lead to more competitive pricing.

“We anticipate that the price of petrol from Dangote will be lower than the current rates offered by NNPC, ideally around ₦500 per litre,” Maigandi remarked, highlighting the sector’s expectations for relief in fuel costs.

Published By: Destiny.Jnr