Dangote crashes diesel price to N1,000/litre

Dangote Petroleum Refinery yesterday announced a further reduction in the pump price of Automotive Gas Oli (AGO) otherwise known as diesel from N1200 to N1,000 per litre.

The company said in a statement that the latest slash will “positively affect all the spheres of the economy and ultimately reduce the high inflation rate in the country.”

Three weeks ago, the firm reduced the price of the product from  about N1,600 per litre  to N1,200.

the fresh  reduction  might  not be unconnected with  Federal Government’s   decision  to sell  crude  to  indigenous refiners such as Dangote Refinery in Naira.

The statement reads: “In an unprecedented move, Dangote Petroleum Refinery has announced a further reduction of the price of diesel from 1200 to 1,000 naira per litre.

“While rolling out the products, the refinery supplied at a substantially reduced price of N1,200 per litre three weeks ago, representing over 30 per cent reduction from the previous market price of about N1,600 per litre.

“This significant reduction in the price of diesel, at Dangote Petroleum Refinery is expected to positively affect all spheres of the economy and ultimately reduce the high inflation rate in the country.”