Diesel, Jet A1: Dangote Makes Further Cuts in Price

For the second time in as many weeks, the Dangote Refinery has reduced the pump price of both the Automotive Gas Oil, AGO, also known as diesel, and Aviation Fuel, better known as Jet A1 to N940 and N980/litre respectively.

The move, designed to ensure fair pricing for its products, is expected to positively have a spiraling effect on all aspects of the nation's economy, with a view to ultimately reducing the current spiraling inflation.

Barely two earlier, the refinery announced a reduction in the pump price of diesel from N1, 200 to N1, 000.

The reduction is a far cry from the erstwhile prevailing cost of about N1, 800 per litre.

 According to a statement by the refinery, the new diesel price applies to customers buying five million litres and above from the refinery, while the price of N970 is for customers buying one million litres and above.

Head of Corporate Communications, Anthony Chiejina, who spoke on the new price, explained that the new price is in consonance with the company’s commitment to help cushion the effect of economic hardship Nigerians are contending with.

According to him;

“I can confirm to you that Dangote Petroleum Refinery has entered a strategic partnership with MRS oil and gas stations, to ensure that consumers get to buy fuel at an affordable price in all their stations, be it Lagos or Maiduguri. You can buy as low as one litre of diesel at N1,050 and aviation fuel at N980 at all major airports where MRS operates,” he said.

Chiejina added that Dangote Refinery is ready to extend the partnership to other major oil marketers.

“The essence of this is to ensure that retail buyers do not buy at exorbitant prices. The Dangote Group is committed to ensuring that Nigerians have a better welfare and as such, we are happy to announce the new prices and hope that it would go a long way to cushion the effect of economic challenges in the country,” he said.

The refinery's new price tariff is the third major reduction in diesel price within three weeks, following the first reduction from N1,700 to N1,200, which was plunged to N1,000 before the N940 per litre price tag for diesel and N980 for Jet A1.