Dangote Refinery Drives Down Diesel Prices, Eyes Petrol Market

By Admin

Following the entry of Dangote Petroleum Refinery into the market, there has been a notable drop in the price of Automotive Gas Oil (diesel) across Nigeria. From its recent peak of around N1,700 per liter, diesel prices have now settled at approximately N1,350 per liter in various locations nationwide.

Reports indicate that Dangote Refinery commenced diesel sales to domestic markets last week, supplying a minimum of one million liters to each registered oil marketer.

This move has been well-received by industry players and is expected to exert downward pressure on diesel prices.

Insiders reveal that Dangote Refinery is offering diesel to marketers at competitive prices ranging between N1,225 and N1,300 per liter, depending on the purchase volume.

This initiative is poised to further stabilize the diesel market and provide relief to consumers.

In addition to diesel, Dangote Refinery is poised to enter the Premium Motor Spirit (petrol) market, with plans to begin distribution as early as May this year. This development signals positive prospects for Nigeria’s fuel sector, given the widespread demand for petrol across the country.

Despite facing regulatory hurdles in the past, Dangote Refinery has successfully navigated challenges to bring its refined products to market. The refinery’s foray into fuel exports underscores Nigeria’s potential to become a net exporter of fuel, reshaping the energy dynamics in the region.

The tangible impact of Dangote Refinery’s entry is already evident, with diesel prices experiencing a significant decline. This development is set to benefit consumers and businesses alike, offering them access to more affordable fuel options and contributing to overall economic stability.