BREAKING: Dangote Refinery reduces fuel price as crude oil price falls
The 700,000-barrel-a-day refinery said lower crude prices prompted the cut, after fuel prices had risen for more than two weeks.
- Dangote Refinery reduced its Premium Motor Spirit gantry price by N25 to N1,325 per litre on Monday, ending a two-week run of increases.
- Falling crude oil prices prompted the adjustment as Brent and West Texas Intermediate crude prices declined by over 3 per cent to $100.50 and $92.43 per barrel respectively.
- According to a DAILY POST market survey, the 700,000-barrel-per-day refinery adjusted its fuel pricing as refiners and marketers faced pressure to reduce costs.
- The Nigerian Midstream and Downstream Petroleum Regulatory Authority scheduled a consultative meeting for Tuesday with stakeholders to discuss competitive fuel pricing under the Petroleum Industry Act.
- PETROAN National President Billy Gillis-Harry rejected union demands for N500 per litre fuel as unrealistic, while the Joint National Public Service Negotiating Council continues lobbying President Bola Tinubu.
11 Articles
11 Articles
BREAKING: Dangote Refinery reduces fuel price as crude oil price falls
Dangote Refinery has reduced its Premium Motor Spirit, PMS, gantry price as crude oil prices fell further on Monday. A market survey by DAILY POST showed that the 700,000-barrel-per-day refinery adjusted its fuel price to N1,325 per litre from N1,350. This means that the mega refinery cut its fuel price by N25 per litre in its latest petrol price reduction. The development comes as Brent and West Texas Intermediate, WTI, crude prices declined by…
Motorists, Commuters Decry Delay In Petrol Price Cuts
Motorists, commuters decry delay in petrol price cuts By Adeola Akinbobola Motorists and commuters across the Federal Capital Territory (FCT) have decried the failure by petrol stations to reduce the price of petrol, following the Dangote Refinery’s latest N25 per litre price cut. Dangote Refinery on Monday announced a N25 per litre reduction in its gantry price to News Agency of Nigeria
Dangote Refinery Reduces Fuel Price As Crude Oil Price Falls
Dangote Refinery has reduced its Premium Motor Spirit, PMS gantry price as crude oil prices fell further on Monday. Market survey showed that the 700,000-barrel-per-day refinery adjusted its fuel price to N1,325 per litre from N1,350. This means that the mega refinery cut its fuel price by N25 per litre in its latest petrol price […]
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