The Dangote Petroleum Refinery has crashed the price of Automotive Gas Oil (AGO), popularly called diesel from N1,200/litre to N1,000/litre, to the excitement of operators in the industry.
In a Statement, the company’s spokesman, Tony Chiejina said “In an unprecedented move, Dangote Petroleum Refinery has announced a further reduction of the price of diesel from N1200 to N1,000/litre.
“While rolling out the products, the refinery supplied at a substantially reduced price of N1,200/litre three weeks ago, representing over 30 per cent reduction from the previous market price of about N1,600/litre.
“This significant reduction in the price of diesel at Dangote Petroleum Refinery is expected to positively affect all the spheres of the economy and ultimately reduce the high inflation rate in the country.”
Secretary of the Independent Petroleum Marketers Association of Nigeria, Abuja-Suleja Branch, Mohammed Shuaibu, said, “This is a welcome development and I am happy to hear this news because it will further increase competition in the downstream which will benefit many Nigerians.
“Such competition would create room for more price reduction and we are going to start seeing the positive impact on the cost of goods and services on the long run.”
