Dangote Petroleum Refinery has announced further reduction of the price of diesel from 1200 to 1,000 naira per litre.
This is an unprecedented move as the refinery had supplied at a substantially reduced price of N1,200 per litre three weeks ago when it rolled out the product, representing over 30 per cent reduction from the previous market price of about N1,600 per litre.
TheLeadng had reported the pump price of Automotive Gas Oil, popularly called diesel, dropped from about N1,700/litre which it sold for a few weeks ago, to around N1,350/litre in some locations across the country following the sale of the commodity by the Dangote Petroleum Refinery.
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The $20bn worth refinery started pumping out diesel to the domestic market.
It sold a minimum of one million litres to each registered oil marketer that got the product from the plant since it commenced diesel sale.
Officials of the multi-billion dollar plant and oil dealers confirmed that the product was dispensed to marketers at between N1,225/litre and N1,300/litre depending on the volume of purchase.
This came as it was also gathered that the refinery would start releasing Premium Motor Spirit to the domestic market in May this year.
