By Mary Onyia
Nigeria’s largest privately owned refinery, Dangote Refinery, has reduced the price of petrol by N100. This move comes after three consecutive price increases that sparked widespread public criticism and concern among consumers. The latest adjustment is expected to provide temporary relief to motorists and businesses already struggling with rising fuel costs and inflation nationwide.
According to the refinery’s latest pricing template released on Tuesday, the reduction represents a N100 drop from the previous rate of N1,175 per litre. The refinery also announced that petrol supplied through coastal distribution will now sell at N1,050 per litre.
The price of diesel has also been revised downward, falling to N1,430 per litre — a N190 reduction from the prior price of N1,620 per litre, offering further relief to consumers and businesses dependent on the fuel.
The refinery pointed out that the prices at the gantry do not include fees from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).