Dangote Refinery has announced a further reduction in petrol prices, offering rates as low as N899 per litre for cash purchases of two million liters. This latest move is part of the refinery’s ongoing efforts to stabilize Nigeria’s energy market and ensure a steady fuel supply for marketers.
New Pricing Structure
Under the revised pricing framework, marketers can access petrol at N899.5 per litre for two million liters on a cash basis. An additional two million liters are available with a bank guarantee valid for 15 days from Access Bank, Zenith Bank, and First Bank.
For larger volumes, the refinery offers 10 million liters at N895 per litre, with the same bank guarantee terms applied to an equivalent matching volume.
Continued Price Reductions
This development follows a price cut in November when Dangote Refinery reduced Premium Motor Spirit (PMS) prices from N990 per litre to N970, accompanied by a N20 per litre discount to ease distribution costs for marketers.
Industry Impact
The latest price adjustment is expected to provide relief for independent marketers and consumers by addressing challenges in fuel affordability and availability.
Market analysts predict the reduction will help alleviate cost pressures across the supply chain, contributing to improved market conditions in Nigeria’s energy sector.