In a move that has led to a drop in diesel prices across the country, Dangote Petroleum Refinery has commenced the sale of diesel at N1,225 per litre. The refinery’s decision to supply diesel to retailers has already resulted in a notable reduction in prices, offering relief to consumers who have been grappling with high fuel costs in recent weeks.
Previously, diesel prices hovered around N1,700 per liter, but with Dangote Petroleum Refinery entering the market, prices have decreased significantly to approximately N1,350 per liter in certain areas. The refinery sold the diesel product to retailers at prices ranging from N1,225 to N1,300 per liter, depending on the volume purchased.
According to industry officials, the refinery also plans to begin supplying petrol to the local market in May this year, further enhancing its contribution to the nation’s fuel supply chain. The announcement of diesel sales has been met with enthusiasm from oil marketers and industry stakeholders, who anticipate a positive impact on the market.
Abubakar Maigandi, the National President of the Independent Petroleum Marketers Association of Nigeria, expressed optimism about the downward trend in diesel prices, attributing it to the emergence of products from Dangote Refinery. He noted that the refinery’s entry into the market has already led to price reductions, with diesel now available at lower rates in various locations across the federation.
Dr. Ralph Arokoyo, CEO of AF Ralph Oil and Gas Ventures, confirmed the initiation of diesel sales by the refinery, highlighting the significant reduction in prices compared to previous weeks. He emphasized that the refinery has sold diesel to numerous marketers, including members of industry associations and independent dealers.
With the promise of petrol supply by Dangote Refinery in the coming months, industry players are optimistic about further improvements in fuel availability and affordability. The anticipated availability of petrol, a widely consumed fuel in Nigeria, is expected to alleviate the burden on consumers and contribute to a more stable fuel market nationwide.
As Dangote Petroleum Refinery continues its operations and expands its product offerings, stakeholders remain hopeful for sustained improvements in fuel accessibility, pricing, and overall market stability.
