• Tue. Apr 23rd, 2024

Dangote Refinery Set To Begin Petrol Sales In May

ByHybrid News

Apr 3, 2024

Dr. Ralph Arokoyo, Chief Executive of AF Ralph Oil and Gas Ventures, has confirmed that Dangote Refinery will commence the sale of petrol into the market by May.

Arokoyo’s announcement comes hot on the heels of Dangote Refinery’s confirmation of selling diesel to marketers on Tuesday, April 2nd.

In an interview with Punch, Arokoyo stated, “They (Dangote Refinery) said it (petrol) will be available between now and May, which is next month. We are optimistic about this because PMS is largely used by Nigerians.”

A senior official at Dangote Refinery, speaking on condition of anonymity due to lack of authorization, also verified the sale of diesel to marketers, further asserting that Premium Motor Spirit (petrol) would soon hit the market.

The source emphasized that the decision of Dangote Refinery to enter the diesel market would likely lead to a reduction in diesel prices nationwide.

“The product (diesel) is everywhere, and marketers are accessing it with ease. The product has been on sale to marketers since last week, and the transactions have been better,” the source revealed.

Furthermore, the source predicted a decrease in diesel prices across various regions of the country, noting that prices have already begun to decline in many parts of Lagos since Dangote Refinery commenced product release to marketers.

This development is anticipated to have a significant impact on the petroleum products market, potentially alleviating supply shortages and stabilizing prices nationwide.
Source: Punch

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