Dangote Petroleum Refinery and Petrochemicals has announced reductions in its petrol and diesel gantry and coastal prices amid Monday's oil price slump to $90 per barrel from previous $115.
According to a new pricing template released by the refinery on Tuesday, the gantry price of petrol has been reduced by N100, dropping from N1,175 to N1,075 per litre.
Dangote Refinery also stressed that the price of petrol for coastal supply would now be N1,050 per litre, saying the difference in price reflects additional costs linked to maritime distribution.
Similarly, the price of Automotive Gas Oil (diesel) has been reduced to N1,430 per litre at the gantry, down from the previous N1,620 per litre. This represents a decrease of N190 per litre.
The refinery noted that these gantry prices do not include regulatory charges from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
Dangote Refinery had raised its gantry PMS price to N1,175 per litre -- the third upward adjustment in seven days.
The refinery communicated the new ex-depot price to marketers and depot operators, up N180 from the N995 per litre announced last week Friday, an 18.1 per cent increase in three days.
