Dangote Refinery Reduces Diesel And Jet Fuel Prices
The Dangote Petroleum Refinery has reduced the prices of diesel and aviation fuel at its loading gantry, following recent movements in global crude oil prices.
The adjustment comes amid wider shifts in the international energy market that have pushed crude prices lower.
The refinery cut the price of Automotive Gas Oil from N1,700 to N1,600 per litre, while Aviation Turbine Kerosene dropped from N1,550 to N1,450 per litre.
The changes reflect a N100 reduction for both products and follow an earlier drop in petrol price announced by the refinery.
Market data shows that the price cuts are already influencing competition among depot operators, with some adjusting their own rates in response.
Industry reports also indicate that crude oil has fallen below $80 per barrel, driven by easing geopolitical tensions.
Stakeholders say further price reductions may depend on how long the global oil decline continues.
However, marketers note that retail prices may take time to adjust due to existing stock purchased at higher rates, even as calls grow for quicker reflection of global price changes in the domestic market.
