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Dangote crashes diesel price to ₦,1000/litre to lower inflation rate

Dangote said the price reduction is expected to have a ripple effect on all the spheres of the economy and reduce the ballooning inflation rate.

Dangote crashes diesel price to ₦,1000/litre to lower inflation rate

The company announced the price reduction in a statement by its spokesperson, Nduka Chiejina, on the night of Tuesday, April 16, 2024.

The refinery had adopted a substantial price cut when it rolled out the products at ₦1,200 per litre three weeks ago, representing over 30% reduction from the previous market price of about ₦1,600 per litre.

It noted that the latest reduction of diesel price s expected to have a ripple effect on all the spheres of the economy and reduce the ballooning inflation rate.

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“In an unprecedented move, Dangote Petroleum Refinery has announced a further reduction of the price of diesel from ₦1,200 to ₦1,000/litre.

“While rolling out the products, the refinery supplied at a substantially reduced price of N1,200/litre three weeks ago, representing over 30 per cent reduction from the previous market price of about ₦1,600/litre.

“This significant reduction in the price of diesel at Dangote Petroleum Refinery is expected to positively affect all the spheres of the economy and ultimately reduce the high inflation rate in the country,” the statement read.

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