The Dangote Petrolchemicals Refinery has effected another reduction in the ex-gantry price of its Premium Motor Spirit also known as petrol below the publicly announced ₦835 per litre.
Sources confirmed on Monday that the refinery has reduced its price to ₦825 per litre for its customers, through a rebate of ₦10 after successful loading of products at the refinery.
The sources said marketers are still paying N835 per litre for products but receive a ₦10 refund after loading and evacuating them from the refinery.
The covert price adjustment has allowed its customers and marketers to retail the product at a lower band of ₦830 to ₦835, outpricing importing marketers and private depot owners.
The official said, “The Dangote refinery has started giving a rebate on its products. It’s not an official reduction yet, but paid back after marketers buy products from them.”
Last month, the Dangote refinery effected a price reduction twice within the space of a week, crashing its gantry price by N45 from N880 to N835 per litre.
This followed the restart and full implementation of the Naira-for-Crude agreement with local refiners after an earlier suspension.
Efforts to get an official reaction from Dangote Spokesperson, Anthony Chiejina, on the price reduction were futile.
Credit: punchng.com
