See more as Dangote announces new petrol price, this time by N30

• Just a fewer days aft its archetypal slash successful weeks, Dangote Refinery has erstwhile again reduced its petrol price
• The simplification is for marketers, and it is expected to pb to substance terms adjustments astatine filling stations nationwide
• Dangote Petroleum Refinery's 650,000 accumulation capableness tin find the terms of substance crossed the country

Legit.ng writer Dave Ibemere has implicit a decennary of concern journalism acquisition with in-depth cognition of the Nigerian economy, stocks, and wide marketplace trends

In a important determination aimed astatine easing substance costs successful Nigeria, the Dangote Petroleum Refinery and Petrochemicals has announced the simplification of its ex-depot (gantry) loading outgo of Premium Motor Spirit (PMS), popularly known arsenic petrol, to N835 connected Wednesday, April, 16.

The caller terms represents a N30 oregon 3.5% simplification from the N865 per litre .

Dangote petrol's caller terms is expected to trigger a retail terms reduction Photo credit: Bloomberg/contributor
Source: Getty Images

The latest terms simplification markets the 3rd consecutive terms slash by the 650,000 barrels-per-day capableness refinery.

Just past Wednesday, the gantry terms stood astatine N880 earlier being adjusted to N865, and present further lowered to N835.

The latest terms alteration follows a diminution successful global crude lipid prices, which person dropped from implicit $70 per tube to $64 per tube successful caller weeks.

The simplification is besides successful enactment with the refinery’s strategy to marque refined products much affordable for Nigerians.

The full implementation of the naira-for-crude woody by the national authorities has besides helped Dangote refinery trim its price.

Other petroleum products terms changes

Punch reports that speech from petrol, Dangote reduced the prices of Jet substance and diesel.

Diesel is priced astatine $608 per metric tonne, with a $70 gantry surcharge, payable either successful naira astatine the prevailing speech complaint of n1,650/$ oregon successful U.S. dollars.

While Jet substance is present selling astatine $664.75, with further surcharges of $42 astatine the gantry and $22 for coastal delivery.

Oil marketers to bargain petrol from Dangote refinery astatine N835 Photo credit: Bloomberg/contributor
Source: UGC

Other backstage depots trim prices

Aside from Dangote refinery, different assorted depots crossed the state are supplying to marketers astatine slashed prices.

Ex-depot petrol terms refers to the terms it is sold from a depot (a retention facility) oregon a organisation point.

Data tracked shows that Heyden depot has reduced its terms by N182 to merchantability astatine N847 per litre, representing a 17.69% drop.

MRS Tincan followed closely, shedding N57 to settee astatine N850 per litre.

Other simplification observed see Sobaz (N870, down N35), Aiteo (N860, down N1), Sigmund (N872, down N2), Alkanes (N868, down N2), and Liquid Bulk (N874, down N8).

However, prices held dependable astatine respective depots, including Rainoil Lagos (N865), Ardova (N865), Sahara (N865), AIPEC (N864), Menj (N863), A. A Rano (N863), Eterna (N865), and Pinnacle Warri (N869).

NNPC reduces terms to N910

Legit.ng antecedently reported that The Nigerian National Petroleum Company Limited (NNPCL) has slashed its petrol pump terms to N910 per litre.

This caller terms represents a N15 simplification from the erstwhile pump terms of N925 per litre

Ardova, Mobil, Petrocam, Hyden, and Matrix person besides announced reductions successful pump prices.

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Source: Legit.ng