By Kolawole Ojebisi
In a fresh move to bolster its influence in the oil industry, the Dangote Petrolchemicals Refinery has effected another reduction in the ex-gantry price of its Premium Motor Spirit also known as petrol.
This is as the refinery decided to sell petrol at N825, a price below the publicly announced N835 per litre.
The slashed N10 is said to be a rebate to be enjoyed by customers after successful loading of products at the refinery.
According to Punch, marketers are still paying N835 per litre for products but receive a N10 refund after loading and evacuating them from the refinery.
This arrangement has allowed the refinery’s customers and marketers to retail the product at a lower band of N830 to N835.
It has also given Dangote refinery an edge over other competitors by out pricing importing marketers and private depot owners.
“The Dangote refinery has started giving a rebate on its products. It’s not an official reduction yet, but paid back after marketers buy products from them.” an official of the company was quoted by Punch.
Recall that last month, the Dangote refinery effected a price reduction twice within the space of a week, crashing its gantry price by N45 from N880 to N835 per litre.
This followed the restart and full implementation of the Naira-for-Crude agreement with local refiners after an earlier suspension.
