Breaking: Again, Dangote reduces petrol price

Dangote Refinery has announced a reduction in petrol prices, with rates dropping to as low as N899 per litre for two million litres.

The new pricing structure offers petrol at N899.5 per litre for cash purchases of two million liters, with an additional two million liters available on a bank guarantee valid for 15 days from Access, Zenith, and First Bank.

For higher volumes, marketers can purchase 10 million liters at N895 per litre with an equivalent matching volume on the same bank guarantee terms.

Recall that in November, the refinery lowered its Premium Motor Spirit (PMS) price to N970 per litre, down from N990. At the time, Dangote Refinery provided marketers with a N20 per litre discount to ease distribution costs.

Details later…