• Sunday, May 19, 2024
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Businesses breathe easier as Dangote reduces diesel, aviation fuel prices to N940, N980

Businesses breathe easier as Dangote reduces diesel, aviation fuel prices to N940, N980

Dangote Petroleum Refinery has again reduced the prices of diesel and aviation fuel to N940, and N980 per litre, respectively, a development that comes as a significant relief to businesses struggling with the rising costs.

The high price of diesel, a key fuel for generators and trucks, has been a major pain point for many companies. Similarly, expensive aviation fuel has squeezed airlines’ margins, impacting travel costs.

According to Dangote, the price change of N940 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.

This comes after its widely celebrated price reduction to N1,000 barely two weeks ago.

Anthony Chiejina, the company’s head of communication who announced the development in a statement, explained that the new price aligns with the company’s commitment to cushion the effect of economic hardship in Nigeria.

Partners MRS stations for nationwide distribution

“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 1 litre of diesel at N1,050 and aviation fuel at N980 at all major airports where MRS operates,” he said.

He further stated that the partnership would be extended 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 better welfare and as such, we are happy to announce these new prices and hope that it would go a long way to cushion the effect of economic challenges in the country,” the statement read in part.

The management of Dangote Petroleum Refinery announced a further reduction of the price of diesel from 1200 to 1,000 Naira per litre barely two weeks ago.

This marks the third major reduction in diesel price in less than three weeks when the product sold at N1,700 to N1,200 and a further reduction to N1,000 and now N940 for diesel and N980 for aviation fuel per litre.