The Dangote Petroleum Refinery has reduced the loading gantry prices of diesel and aviation fuel, days after announcing a cut in the price of petrol.
The refinery reduced the price of Automotive Gas Oil (AGO), commonly known as diesel, by ₦100 per litre. The product, which previously sold for ₦1,700 per litre, will now be sold at ₦1,600 per litre.
Aviation Turbine Kerosene (ATK), also known as jet fuel, also recorded a ₦100 price reduction, dropping from ₦1,550 per litre to ₦1,450 per litre.
The latest adjustment comes shortly after the refinery reduced the gantry price of Premium Motor Spirit (PMS), popularly known as petrol, by ₦75 per litre. The price of petrol was cut from ₦1,250 per litre to ₦1,175 per litre.
The reductions have been linked to the recent decline in global crude oil prices following easing tensions in the Middle East.
Meanwhile, petroleum marketers have projected that the pump price of petrol could fall to about ₦1,200 per litre following the reduction in ex-depot prices spearheaded by the Dangote Petroleum Refinery.
According to industry sources, the development has also compelled other depot owners to lower their prices to about ₦1,180 per litre.
However, many filling stations are yet to reflect the reduction in their retail prices. As of Tuesday, several outlets were still selling petrol at about ₦1,280 per litre.
Marketers attributed the delay to existing stock purchased at higher prices, noting that operators would need time to clear old inventory before implementing the new rates at the pump.
