Oil and Gas
Dangote Refinery review petrol price down to N865 per litre
Dangote Refinery has reduced its price of petrol to N865 per litre, a drop by N15 per litre from the old price. The company sent a notice to marketers on Thursday morning informing them of the downward review of its loading price to N865 per litre. The decision must have been informed by the federal government’s insistence on its Naira-for Crude policy.
The Federal Executive Council (FEC) on Wednesday approved the recommendation of the Technical Sub-Committee on Crude and Refined Product Sales that the Naira- for-Crude policy should still be enforced. Under the policy, all the refineries in the country purchase their crude oil needs from the Nigerian National Petrol Company Limited in the local currency instead of dollar. The policy has helped to stabilise petrol prices across the country.
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