The price of Automotive Gas Oil, AGO, (diesel), has dropped by 20.6 percent to N1,350 per litre in April as the Dangote Refinery pumps the product into the domestic market.
Nigeria’s inflation and foreign exchange crisis had pushed the prices of the product to about N1,700 per litre in most parts of the nation, including Lagos and Abuja.
It was typically primarily imported from the international market.
Vanguard’s checks on Wednesday, however, showed that the price of diesel began to decline after it was discovered that the Dangote Petroleum Refinery had set its price at N1,225 per litre.
Vanguard reported that marketers including the CEO, Major Energy Marketers Association of Nigeria, MEMAN, Mr. Clement Isong, were now buying diesel and aviation fuel from Dangote Refinery.
He said: “Our members have started lifting diesel and aviation fuel from the Dangote Refinery. It is a good development that will impact the domestic market.”
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