Announcing a significant move, the Dangote Petroleum Refinery has brought down the price of Automotive Gas Oil, commonly known as diesel, to N1,000/litre from the previous N1,200/litre.
In a statement released on Tuesday by spokesperson Nduka Chiejina, the refinery shared the following update:
“The Dangote Petroleum Refinery has further reduced the price of diesel from N1,200 to N1,000/litre, marking an unprecedented initiative.
“The refinery had earlier supplied the product at a reduced cost of N1,200/litre three weeks ago, which was a substantial 30% drop from the previous market price of around N1,600/litre.
“This significant price cut on diesel at the Dangote Petroleum Refinery is expected to have a positive impact across the economy, leading to a reduction in the prevailing high inflation rate.”
Recent reports from NewsNow highlighted the plea from oil marketers urging the refinery to lower its diesel price to N850/litre.
More information to follow…
Okechukwu is a seasoned journalist at NewsNows, bringing with him 15 years of experience covering various sectors including Energy (Power and Petroleum), Finance, Agriculture, Environment, Humanitarian Services, Works and Housing, Trade and Investment, Capital Markets, Aviation and Transport, ICT, among others.