Dangote Petroleum Refinery yesterday announced a further reduction in the pump price of Automotive Gas Oli (AGO) otherwise known as diesel from N1200 to N1,000 per litre.
The company said in a statement that the latest slash will “positively affect all the spheres of the economy and ultimately reduce the high inflation rate in the country.”
Three weeks ago, the firm reduced the price of the product from about N1,600 per litre to N1,200.
The Nation gathered that the fresh reduction might not be unconnected with Federal Government’s decision to sell crude to indigenous refiners such as Dangote Refinery in Naira.
The statement reads: “In an unprecedented move, Dangote Petroleum Refinery has announced a further reduction of the price of diesel from 1200 to 1,000 naira per litre.
“While rolling out the products, the refinery supplied at a substantially reduced price of N1,200 per litre three weeks ago, representing over 30 per cent reduction from the previous market price of about N1,600 per litre.
“This significant reduction in the price of diesel, at Dangote Petroleum Refinery is expected to positively affect all spheres of the economy and ultimately reduce the high inflation rate in the country.”
