Dangote Petroleum Refinery has refuted claims that the recent reduction in petrol pump prices was caused by the Federal Government’s suspension of a 15% import tariff. The company stated that the price drop resulted solely from its own decision to reduce Premium Motor Spirit (PMS) gantry and coastal prices on November 6—days before marketers adjusted their pump prices.
Dangote described circulating reports linking pump price reductions to the tariff issue as “misleading” and an attempt to distort market realities. The refinery clarified that it reduced its gantry price from N877 to N828 per litre and its coastal price from N854 to N806 per litre, a 5.6% cut. These reductions were publicly reported before marketers lowered pump rates.
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