Dangote Refinery lowers petrol price to N1,075

[LagosPolice]

Dangote Petroleum Refinery has reduced its ex-depot price for Premium Motor Spirit (PMS) by N100, with the refinery now selling at N1,075.

The reduction from N1,175 marks the first downward adjustment after several increases recorded in recent days.

According to the refinery’s latest pricing template released on Tuesday, as seen on nsmnews.com , the gantry price of petrol has been cut by N100 to N1,075 per litre

 

[igwe emmanuel]

That’s quite a noticeable drop. After the recent price increases, this should bring a bit of relief if it reflects at the pumps.
Let’s see how the market responds to it.

 

[Mr.Simon]

Dangote Petroleum Refinery has reduced its ex-depot price for Premium Motor Spirit (PMS) by N100, with the refinery now selling at N1,075.

The reduction from N1,175 marks the first downward adjustment after several increases recorded in recent days.

According to the refinery’s latest pricing template released on Tuesday, as seen on nsmnews.com , the gantry price of petrol has been cut by N100 to N1,075 per litre

I don't know where Nigeria is heading to through this fuel subsidy.

 

[Ugobeauty]

I don't know if #100 reduction will be of any help. Fuel selling for above #1300 is so sad. I hope we don't get to #2000

 

[Little Princess]

It's encouraging to see the ex-gantry price drop to ₦1,075, but as @Ugobeauty mentioned, the real test is the retail pump. Even with this ₦100 cut, by the time you add the ₦50–₦70 logistics and regulatory costs, we are still looking at retail prices above ₦1,150. The good news is that NNPC has already started adjusting today, dropping to ₦1,130 in Lagos. It's not the 'subsidy era' price we miss, but it's a step away from the ₦1,500 'doomsday' predictions we heard last week. Do you think other independent marketers will follow NNPC's lead by the weekend?

 

[Ugobeauty]

It's encouraging to see the ex-gantry price drop to ₦1,075, but as @Ugobeauty mentioned, the real test is the retail pump. Even with this ₦100 cut, by the time you add the ₦50–₦70 logistics and regulatory costs, we are still looking at retail prices above ₦1,150. The good news is that NNPC has already started adjusting today, dropping to ₦1,130 in Lagos. It's not the 'subsidy era' price we miss, but it's a step away from the ₦1,500 'doomsday' predictions we heard last week. Do you think other independent marketers will follow NNPC's lead by the weekend?

Once the reduction is sustainable they will have no choice than to follow NNPC lead. One of the problems we have with most marketers is that they are quick to adjust price upward and reluctant to drop it.

 

[Little Princess]

Once the reduction is sustainable they will have no choice than to follow NNPC lead. One of the problems we have with most marketers is that they are quick to adjust price upward and reluctant to drop it.

Absolutely. That's spot on.

 

[Adegoroye]

That’s quite a noticeable drop. After the recent price increases, this should bring a bit of relief if it reflects at the pumps.
Let’s see how the market responds to it.

We just pray that the war should stop