Dangote has slashed the price of diesel to N940 per liter, yet oil marketers across the country continue to dispense it at prices ranging from N1,350 to N1,450 per liter. Despite attributing the high pump prices to transportation costs, taxes, and old stock, they appreciate Dangote’s efforts to reduce the price. Dangote’s refinery also reduced the price of aviation fuel, known as JetA, by approximately N470 per liter.
The latest reduction in diesel prices by Dangote follows a previous cut from N1,200 to N1,000 per liter less than two weeks ago. This recent decrease is the third major reduction in less than three weeks. Initially selling for N1,700 per liter, Dangote’s refinery has steadily reduced the price to N940 per liter. Additionally, aviation fuel from the refinery is now priced at N980 per liter.
The partnership between Dangote Petroleum Refinery and MRS oil and gas stations ensures affordable fuel prices for consumers across Nigeria, with diesel available for as low as N1,050 per liter and aviation fuel at N980 per liter. The company aims to extend this partnership to other major oil marketers to prevent retail buyers from purchasing fuel at exorbitant prices.
President Bola Tinubu has commended Dangote’s refinery for its efforts to reduce fuel prices, calling it an enterprising feat. Ajayi Kadiri, Director-General of the Manufacturers Association of Nigeria, praised the refinery’s decision, highlighting its positive impact on the national economy and various sectors such as industrial operations, transportation, logistics, and agriculture.
While oil marketers welcome Dangote’s reduction in diesel prices, they continue to sell the product at high prices, citing the presence of old stock at filling stations. Abubakar Maigandi, National President of the Independent Petroleum Marketers Association of Nigeria, acknowledges the reduction but appeals for further decreases to achieve a pump price of N800 per liter.