Oil marketers are advocating for a reduction in the pump price of diesel produced by the Dangote Petroleum Refinery to a range of N700 to N850 per litre.
They emphasized that the current price of N1,225 per litre is high for a locally produced commodity compared to imported diesel.
The call for a price review also highlights the absence of import-related costs like vessel charges and import duties associated with diesel produced domestically.
Additionally, oil marketers highlighted that some imported diesel is being sold at N1,250 per litre due to the strengthening of the naira against the dollar, further reinforcing the need for a price adjustment by Dangote refinery.
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Various oil marketer associations, including IPMAN and PETROAN, have held meetings to discuss the pricing of petroleum products from the refinery, expressing concerns about logistics costs associated with transporting the product from Lagos where the refinery is located.
The stakeholders are planning to engage with the refinery’s management and seek intervention from the Federal Government to address these pricing issues.
The Dangote Petroleum Refinery recently began diesel sales domestically, with a reported price range of N1,225 to N1,300 per litre depending on the volume of purchase.
Marketers are optimistic that this new development will lead to a reduction in diesel prices, which had recently soared to about N1,700 per litre.
