Raphael Johnson
In what appears to be a cheery development for consumers, the Dangote Petrochemicals Refinery has effected another reduction in the ex-gantry price of its Premium Motor Spirit, also known as petrol, below the publicly announced N835 per litre.
Sources confirmed on Monday that the refinery has reduced its price to N825 per litre for its customers through a rebate of N10 after the successful loading of products at the refinery.The sources said marketers are still paying N835 per litre for products but receive a N10 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 N830 to N835, outpricing importing marketers and private depot owners.
An 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.
