The Dangote Petrolchemicals Refinery has further decreased the ex-gantry price of its Premium Motor Spirit (PMS), also known as petrol, to below the previously stated N835 per litre.
Sources confirmed on Monday that the refinery has lowered its price to N825 per litre for its customers. This reduction is facilitated through a N10 rebate offered after products are successfully loaded at the refinery.
These sources also revealed that although marketers initially pay N835 per litre for the product, they subsequently receive a N10 refund after loading and removing the fuel from the refinery.
This subtle price adjustment has enabled the refinery’s customers and marketers to retail the product within a more competitive range of N830 to N835, effectively undercutting importing marketers and private depot owners.
An official stated, “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 implemented a price reduction twice within a single week, significantly reducing its gantry price by N45, dropping from N880 to N835 per litre.
This occurred following the restart and full implementation of the Naira-for-Crude agreement with local refiners after a prior suspension.
Efforts to obtain an official response from Dangote Spokesperson, Anthony Chiejina, regarding the price reduction were unsuccessful.
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