Effective Monday, December 23, 2024, the price of Premium Motor Spirit (PMS), will drop to N935 per litre.
This is according to the Independent Petroleum Marketers Association of Nigeria (IPMAN) in view of Dangote Refinery’s new arrangement.
IPMAN said the new price was necessitated by the reduction in Dangote Refinery’s fuel ex-depot price and uniform arrangement, which would enable marketers to sell at N935 in their outlets nationwide.
Alhaji Maigandi Garima, IPMAN National President, who made this known on Sunday in an interview with the News Agency of Nigeria (NAN) in Abuja, lauded the Dangote refinery for the development.
NAN reports that Dangote refinery recently announced a significant reduction in fuel price by 7.27 per cent from N970 per litre to N899.50 per litre at its loading gantry and provided generous credit terms to marketers.
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According to him, the new price was necessitated by the reduction in Dangote Refinery’s fuel ex-depot price and uniform arrangement, which would enable marketers to sell at N935 in their outlets nationwide.
Recalls that Dangote Refinery recently announced a reduction in fuel price by 7.27 per cent from N970 per litre to N899.50 per litre at its loading gantry and provided generous credit terms to marketers.
In a bid to ensure that the price reduction gets to the consumers, Dangote Refinery signed a partnership with MRS to sell petrol from its retail outlets nationwide at N935.
“Dangote Refinery has brought another new arrangement of loading and pricing by which marketers would pay a fixed ex-depot price of N899. 50k.
“The refinery is running a programme whereby it wants the fuel consumption across the country to be at the same rate. We are expecting the new arrangement to kick-start on Monday.
“We have been loading from the Dangote Refinery and the refinery is saving us in this festive period,’’ the IPMAN leader said.
(NAN)
