fbpx
Connect with us

Business

Dangote’s Diesel Price Drop to N1,225/Litre Leads to Market Shift

Dangote’s diesel price drops to N1,225 per letre which has also led to a drop in prices. They will also be supplying petrol in May.

Published

on

Dangote's Diesel Price
Dangote's Diesel Price Drop to N1,225/Litre, Leads to Market Shift

Dangote’s diesel price drops to N1,225 per letre which has also led to a drop in prices. They will also be supplying petrol in May.

The cost of diesel at the pump has recently decreased, falling from approximately N1,700 per liter a few weeks ago to around N1,350 per liter in certain areas across the country as a result of the Dangote Petroleum Refinery selling the product.

VerseNews reports that the official of the plant and oil sellers have mentioned that they sold the product to sellers at prices ranging from N1,225 to N1,300 per liter, depending on how much they bought.

It was also mentioned that the refinery plans to begin supplying Petroleum in May this year to the local market.

Advertisement

“They started pumping out diesel to marketers since last week. They also promised to sell aviation fuel soon. Some of my members confirmed this to me after making the purchase,” said an official.

“So some of our marketers have started getting the product, but as an association we have not got the product yet, because we want to get the actual rate that it will be sold to us when we buy in bulk. However, they have started selling diesel because some of our marketers have started buying.

“They are selling at N1,225/litre and the minimum volume they are giving is one million litres per marketer. Also, they assured us that they will release more products, but for now this (diesel) is what they are starting with. So we are expecting them to release PMS anytime from now.”

“The price of diesel is going to fall because of the release of products from Dangote refinery. In fact, it is already coming down in Lagos,” mentioned the National President, Independent Petroleum Marketers Association of Nigeria, Abubakar Maigandi.

Advertisement

Another oil marketer, Dr. Ralph Arokoyo, CEO of AF Ralph Oil and Gas Ventures, verified that the refinery has initiated the distribution of diesel to retailers. He also mentioned that the facility commenced supplying the product as of last Wednesday.

“Yes they have started. They started diesel sales last Wednesday and they have sold to many marketers including members of IPMAN and MEMAN (Major Energy Marketers Association of Nigeria), as well as other private registered independent dealers.”

“One million litres is the minimum and the rate is okay considering what other major tank farms are selling, which is why people are trooping to the refinery now.

“The price ranges between N1,250/litre and N1,300/litre depending on the volume you are buying. This is good news for Nigerians because in the last few weeks the price of diesel hovered between N1,600 and N1,700/litre.

Advertisement

“But in many locations across the federation, the prices are beginning to drop due to the emergence of products from that refinery and as the products are being dispatched since last Wednesday. Now you can get AGO (diesel) in some stations at N1,400/litre.

“Some are even doing N1,350/litre now and I want to believe that in a couple of weeks to come, we should see more reduction in the price of the product as more products from the plant hit the market and spread very well across the country.”

“They (Dangote refinery) said it (petrol) will be available between now and May, which is next month. We are optimistic about this, because PMS is largely used by Nigerians,” they added.

whatsapp

Udeagha P.M is an experienced content writer, SEO expert, website designer, and computer engineer offering comprehensive digital solutions. With a blend of creativity, technical expertise, and strategic SEO insights, He craft compelling content and design user-friendly websites that elevate online presence and drive organic traffic. Contact him @udeaghapromise23@gmail.com

Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

WATCH: Nigeria Newspaper Headline Today

Apply For Latest Job Openings

Trending

'My Wife's Ring Can Buy 2 Or 3 Rolls Royce' - Davido Brags As Chioma Flaunts $1 Million Diamond Ring (Video) 'My Wife's Ring Can Buy 2 Or 3 Rolls Royce' - Davido Brags As Chioma Flaunts $1 Million Diamond Ring (Video)
Entertainment4 weeks ago

‘My Wife’s Ring Can Buy 2 Or 3 Rolls Royce’ – Davido Brags As Chioma Flaunts $1 Million Diamond Ring (Video)

Nigerian Afrobeat star Davido and his fiancée Chioma Rowland, who are set to wed on June 25th, made headlines as...

Labour Party Leadership Crisis Resolved As Abure and Apapa Factions Unite Labour Party Leadership Crisis Resolved As Abure and Apapa Factions Unite
Politics4 weeks ago

BREAKING: Labour Party Leadership Crisis Resolved As Abure and Apapa Factions Unite

The Labour Party's leadership crisis has ended as factions led by Julius Abure and Lamidi Apapa reconciled to present a...

EXCLUSIVE: Nigerians To Start Using Three-In-One National Identity Card Soon EXCLUSIVE: Nigerians To Start Using Three-In-One National Identity Card Soon
News4 weeks ago

EXCLUSIVE: Nigerians To Start Using Three-In-One National Identity Card Soon

NIMC is set to launch a versatile three-in-one identity card for Nigerians, featuring payment capabilities and social service functionalities, following...

HND Holders From Polytechnics Must Undergo One-Year Mandatory Training - FG HND Holders From Polytechnics Must Undergo One-Year Mandatory Training - FG
Education4 weeks ago

HND Holders From Polytechnics Must Undergo One-Year Mandatory Training – FG

Dr. Folasade Yemi-Esan, Head of the Civil Service, has mandated HND holders to undergo a one-year training before promotion to...

EFCC Arrests Two Ex-Union Bank Employees For Stealing N4.2m From A Dead Customer's Account EFCC Arrests Two Ex-Union Bank Employees For Stealing N4.2m From A Dead Customer's Account
News4 weeks ago

EFCC Arrests Two Ex-Union Bank Employees For Stealing N4.2m From A Dead Customer’s Account

The EFCC arrested two former Union Bank employees in Makurdi for embezzling N4.2 million from a deceased customer's account.

Christ Embassy Church Headquarters in Lagos On Fire Christ Embassy Church Headquarters in Lagos On Fire
News4 weeks ago

BREAKING: Christ Embassy Church Headquarters in Lagos On Fire (Video)

The Christ Embassy Church headquarters in Ikeja, Lagos caught fire on Sunday morning.

BREAKING: Finidi George Resigns As Super Eagles Head Coach BREAKING: Finidi George Resigns As Super Eagles Head Coach
Sports1 month ago

BREAKING: Finidi George Resigns As Super Eagles Head Coach

Finidi George resigns as the head coach of the Super Eagles, following the NFF's plan to hire a foreign technical...

Tension As President Tinubu Falls, Hits Head On Parade Vehicle During Democracy Day Tension As President Tinubu Falls, Hits Head On Parade Vehicle During Democracy Day
News1 month ago

Tension As President Tinubu Falls, Hits Head On Parade Vehicle During Democracy Day (Video)

Nigerian President Bola Tinubu stumbled and fell during the June 12 Democracy Day parade, sparking renewed concerns about his health.

Democracy Day: FG Announces Date for Public Holiday Democracy Day: FG Announces Date for Public Holiday
News1 month ago

Democracy Day: FG Announces Date for Public Holiday

The Federal Government has announced June 12 as a public holiday to celebrate Democracy Day.

5 Best Video Interview Software You Should Be Using 5 Best Video Interview Software You Should Be Using
Career News1 month ago

5 Best Video Interview Software You Should Be Using

Zoom, HireVue, and Spark are some of the best video interview software. These tools enhance efficiency, improve candidate experience, and...

Advertisement