Dangote Petroleum Refinery has reduced the ex-depot price of Premium Motor Spirit, commonly known as petrol, by N10 from N835 to N825 per litre.
Newstellers gathered on Monday that the refinery effected the price reduction through a rebate of N10 after successful loading of products at the plant.
Marketers, according to sources, are still paying N835 per litre for PMS but receive a N10 refund after loading and evacuating them from the refinery.
With the covert price adjustment, marketers are now able to retail the product at a lower band of N830 to N835 per litre to customers, contrary to what some marketers who import the product offer to their customers as well as private depot owners.
Punch quoted a source at Dangote as saying, “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.”
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.
When Newstellers contacted the official spokesman of Dangote, Anthony Chiejina, he declined to comment on the issue.
