Dangote Petroleum Refinery and Petrochemicals has announced fresh reductions in the prices of Premium Motor Spirit (PMS), also known as petrol, and Automotive Gas Oil (AGO), commonly referred to as diesel.
Information made available GISTSMATE MEDIA on Saturday by a source familiar with the development showed that the refinery has lowered the gantry price of petrol by N25 per litre, bringing it down from N1,275 to N1,250 per litre.
The source also disclosed that the price of Automotive Gas Oil (diesel) has been reduced by N100 per litre.
The product will now sell at N1,700 per litre at the gantry, down from the previous N1,800 per litre.
The latest price reduction comes about three weeks after reports emerged that Dangote Refinery had increased the ex-gantry price of petrol.
At the time, a credible inside source disclosed that petrol continued to sell at N1,275 per litre at the refinery, hours after reports claimed that the company had raised its petrol price by N75 amid fluctuations in global crude oil prices.
In another development, KAKAKI OKEOGUN NEWS reported that the Nigerian National Petroleum Company (NNPC) Limited has opposed the lawsuit filed by Dangote Petroleum Refinery challenging fuel import licences issued to marketers, warning that restricting imports could expose Nigeria to supply disruptions and monopoly control.
According to Reuters last week Friday, NNPC argued before the federal high court in Lagos that granting Dangote refinery’s request to void or restrict import permits would threaten the country’s energy security and destabilise fuel supply.
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In the court documents, NNPC said the move could expose Nigeria to “supply disruptions, price instability and risks to national energy security”.
The legal dispute centres on import licences issued or renewed by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to fuel marketers and NNPC.
