THE Dangote Petroleum Refinery has announced a new pump price template to be followed by its partners retail outlets.
The template was published on the Dangote Group’s official X handle on Thursday, May 22.
The notice showed the new pump prices to be sold to the retail outlets across the states.
“New Reduction in PMS (Petrol) Pump Price. Buy from our partners’ retail outlets nationwide at the following prices per litre,” the notice read.
It listed the retail outlet partners as MRS, AP (Ardova), Heyden, Optima Energy, Techno Oil, and Hyde.
According to the notice, the refinery fixed the petrol pump price at N875 per litre in Lagos and N885 in other southwest states.
In the northwest and north-central, the refinery also fixed the pump price of petrol at N895 per litre.
In the north-east, south-south and south-east states, the refinery fixed the pump price of petrol at N905 per litre.
It urged all petrol users to report non-compliance with any of its partners retail outlets.
The ICIR can report that the Dangote refinery has been initiating price reductions of petrol and other petroleum products at both its ex-depot and partners’ retail outlets’ pump prices since the refinery came on stream.
The refinery had lately, on April 16, slashed product prices, prompting all its key partners to reduce their pump prices.
At the time, it fixed the petrol pump price at N890 per litre in Lagos and N900 in other southwest states.
In the northwest and north-central, the refinery fixed the pump price of petrol at N910 per litre.
In the north-east, south-south and south-east states, it also fixed the pump price of petrol at N920 per litre.
The price adjustment came after the refinery announced a reduction in the gantry price of its product from N865 to N835.
The price drop, which took immediate effect, marked the second price reduction within that week of April, The ICIR reported.
Also in February, the refinery reduced prices twice by N125.
In addition, products such as diesel and Liquefied Petroleum Gas (LPG) have also experienced significant price reductions due to the refinery’s sustained efforts.
The consistent changes in petrol prices at its partners’ retail outlets, pump and ex-depot prices, oil marketers had said, were expected in a deregulated market.
“It also shows that we are moving in tandem with deregulation and price dynamics. In a competitive, deregulated petroleum market, this is expected,” a former chairman of the Major Oil Marketers Association of Nigeria (MOMAN), Adetunji Oyebanji, had told The ICIR.