Dangote Refinery reduces petrol gantry value to N1,215 per litre

 Dangote Refinery has considerably decreased its Premium Motor
Spirit, PMS, gantry value.

 

A market survey confirmed that the refinery’s petrol gantry
value dropped to N1,215 per litre from N1,250.

This represents a discount of N35 per litre by Africa’s
largest refinery.

The Chief Executive of Petroleumprice.ng, Olatide Jeremiah,
has additionally confirmed the newest gasoline value discount by Dangote Refinery, noting
that depot house owners reminiscent of Soroman, Aiteo and Masters are promoting petrol at
between N1,255 and N1,300 per litre.

According to him, the affirmation of the Dangote Refinery’s
new value got here from consortium entrepreneurs.

“It’s the consortium marketers’ price,” he disclosed
in an interview.

Reacting to the event, the President of the
Independent Petroleum Marketers Association of Nigeria, IPMAN, Abubakar
Maigandi, described the value discount as a optimistic growth for
Nigerians.

“It is a good thing for Nigerians,” he mentioned.

Petrol costs had remained elevated in current weeks earlier than
the newest downward adjustment by the refinery.

Currently, retail petrol costs throughout filling stations in
Nigeria vary between N1,370 and N1,429 per litre.

However, following Dangote Refinery’s value discount,
retail petrol costs are anticipated to say no considerably from Monday.

Crude oil costs stood at $104 and $113 per barrel for West
Texas Intermediate, WTI, and Brent crude, respectively, on the time of submitting
this report.

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