₦airaland Forum

The Dangote Petroleum Refinery & Petrochemicals has announced a fresh reduction in the ex-depot prices of Premium Motor Spirit (PMS) and Automotive Gas Oil (AGO).

In a statement on Saturday, the company said the reduction reinforces its commitment to making refined petroleum products more affordable and supporting economic activities across Nigeria.

Under the latest price adjustment, the refinery reduced the ex-depot price of PMS, commonly known as petrol, to N1,250 per litre from N1,275 per litre, while the price of AGO (diesel) was cut to N1,700 per litre from N1,800 per litre.

“The price review comes amid the refinery’s continued efforts to improve supply efficiency, deepen domestic refining, and provide cost relief to consumers and businesses that depend heavily on petroleum products for transportation, power generation and industrial operations,” the statement read.

Fuel price has doubled since February when Israel and the US launched a war against Iran, killing its Supreme Leader.

However, in retaliation, Iran laid siege to the Strait of Hormuz, making it difficult for fuel laden vessels to cross.

The development triggered price surge, globally, with Nigeria being one of the badly affected nations.

Source: https://dailytrust.com/dangote-refinery-cuts-petrol-diesel-prices-again

Make I fit enter Ojodu Berger ₦500 tomorrow...,

Have a good day

Petrol is not supposed to sell above 1050, even with the increase in price of crude.

Fuel import license that was granted to importers is doing the magic.

Dangote wants to recoup his investment with a year.

Meanwhile refinery is a deep capital project that the recouping should be spread over 20 years.


Dangote, we are supporting you but please don't suffocate us.

Still not reflecting on the price board

Kingray10:
Petrol is not supposed to sell above 1050, even with the increase in price of crude.

Or you meant to type N550?

This one na reduction? Nonsense.

Kingray10:
Petrol is not supposed to sell above 1050, even with the increase in price of crude.

In a saner clime, right? Funny

Dangote has been playing with fuel prices. Whenever he wants to hike it, he will first remove #20, then increase it by #350.

Meringe:
Fuel import license magic.

That's it my brother. You must always keep Dangote in checks, otherwise, he will over-leverage his monopolistic strength.

Men and business
People always do people

NNPC pls issue more licenses. Dangote wants to kill us with monopoly in this country.

Innnnnssssuuuullllt! I won't accept this insult. Dangote pls close down or better still face abroad if you don't want to help us

What I still find it difficult to understand, is why Diesel is more expensive than PMS

With this I feel PMS is being subsided by Diesel, because this makes no sense from a position of production.

And the petrol is unnaturally cheap.

Berankis:
Or you meant to type N550?

Lmao 🤣🤣

I wonder o..
Left to dangote fuel should be 200 per ltr..

But the cabals won't let him

Just look at that 🤔 🤔 🤔 i never trust this man cry for once in my life.
Biggest market manipulation we have in Nigeria is Dangote. Government should ensure more licenses is being given out

Kingray10:
Petrol is not supposed to sell above 1050, even with the increase in price of crude.

which 1050. It should go back to 300 it's our resources these criminals are extremely wicked.

Crude oil prices are falling.

Some people think those calling for import licenses are unpatriotic but it is the only way to keep Dangote competitive.

Dangote’s prices should be slightly cheaper than oil that entered ship 3000 miles away, paid export and import charges, wasted time on sea which brings additional finance cost, but he is more expensive.

If import licenses are given, importers will bring in product whenever his prices go above landing cost of imported products. If his prices stay below or at par then the license will be useless but it will keep him in check.

Cum4me:
which 1050. It should go back to 300 it's our resources these criminals are extremely wicked.

Which your resources, how is petrol your resiurce

Berankis:
Or you meant to type N550?

You 4 sey #55 na, what's the big deal sef shebi na ordinary petrol na. Abi no be so....Amala

Good move, God bless DANGOTE

adenigga:
Source: https://dailytrust.com/dangote-refinery-cuts-petrol-diesel-prices-again

Dangote is a very greedy business man. The price of crude oil has gone down drastically like 2 weeks now and he's just reducing his ex depot price just bcoz he knew that FG had granted license to marketers to import.

Cut it to N500 if you mean business

He takes #10 and adds #25 later... It is well.

Meringe:
Fuel import license that was granted to importers is doing the magic.

Dangote wants to recoup his investment with a year.

Meanwhile refinery is a deep capital project that the recouping should be spread over 20 years.


Dangote, we are supporting you but please don't suffocate us.

you are right. he really tried to set up the refinery were others who had licenses couldn't do but he shouldn't exploit Nigerians. shame to our oil rich states like rivers, bayelsea, akwa ibom and Delta who couldn't build or partner with investors to build a working refinery. they would have conveniently build a 50k capacity by any of the mentioned states. lack of foresight.

Kingray10:
Petrol is not supposed to sell above 1050, even with the increase in price of crude.

If dangote is evil & over charging Nigeria why are the prices of Ndi independent marketers n Nnpc that love nigerians not selling at 1050

Why ??

More license should be given to the importers of petrol, this will make us have value for our money.

He's a very greedy man. Importation of fuel should be encouraged. Nigeria and Nigerians are not safe in the hands of Dangote monopoly. Very disheartening that Dangote Refinery remain selfish and greedy ready to exploit Nigeria and Nigerians despite numerous government support towards his Refinery till date.

MakindeHassan:
Crude oil prices are falling.

Some people think those calling for import licenses are unpatriotic but it is the only way to keep Dangote competitive.

Dangote’s prices should be slightly cheaper than oil that entered ship 3000 miles away, paid export and import charges, wasted time on sea which brings additional finance cost, but he is more expensive.

If import licenses are given, importers will bring in product whenever his prices go above landing cost of imported products. If his prices stay below or at par then the license will be useless but it will keep him in check.

It's the same Dangote that made cement to be this expensive. Some years back, Dangote criticized all the cement manufacturers for low quality and exorbitant price. He came up with Dangote 3x blaming other manufacturers for building collapse. Now, he has gained controllable shares of the market and he can dictate the price now at #12k. He's a wicked man.

DANGOTE IS WORKING ON OUR PYSCH

kedeojo:
you are right. he really tried to set up the refinery were others who had licenses couldn't do but he shouldn't exploit Nigerians. shame to our oil rich states like rivers, bayelsea, akwa ibom and Delta who couldn't build or partner with investors to build a working refinery. they would have conveniently build a 50k capacity by any of the mentioned states. lack of foresight.

Why not run us through a calculations based on int'l market price present and show us how much Dangote is explioting the masses

let even agree Dangote is wicked & greed , sebi una get Nnpc & independent oil marketers importing why are they not selling cheaper than Dangote

How many times have we seen independent marketers slash prices nd compel Dangote to adjust, it is always the other way round and Dangote is the villian

If not for Dangote, with the oil global crisis going on, Nigerians fall don see shege pro max for oil marketers hand, we will have shortages, maybe na 2500 per litre cos they will easily say strait of hormones 😏 perfect excuse to finish Nigerian patapata

trust this Tinubu govt to fold his arms heap the blame on us iran, and take no responsibility. God bless Dangote more

Macphenson:
NNPC pls issue more licenses. Dangote wants to kill us with monopoly in this country.

There are many Nigerians with licences for over twenty years but they prefer to sell it to foreigners as unrefined product. I personally know a kinsman who got oil well from abdulsalam and that is exactly he does. his head office at VI is domicile because no field operations. my cousin resign from his company as one of the engineers because he said you only stay in office doing nothing cos only white men he lease it to them do all field work and pay to the man and he in turn pays salaries. he had to move to PH and get lesser salary then but with a lot of experience. today he owns is own company and playing actively in the oil and gas sector. he told me, that is how most of the licence owners did because they will say who get time to build a refinery when he sit comfortably and money comes to him.

He dey use right hand give,use left hand collect..



#Greeks gift