The Dangote Petrolchemicals Refinery has once again lowered the ex-gantry price of its Premium Motor Spirit, or petrol, below the N835 per litre that was previously declared.
Following the successful loading of products at the refinery, sources verified on Monday that the refinery has lowered its price for its customers to N825 per litre by giving them a N10 refund.
According to the sources, marketers continue to pay N835 per litre for goods, but after loading and removing them from the refinery, they are refunded N10.
Customers and marketers are now able to sell the goods at a lower band of N830 to N835, outpricing private depot owners and imported marketers thanks to the secret price change.
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.
