Marketers Keep Petrol Prices Unchanged Despite Dangote Refinery’s Rate Cut

BY CHIKA IZUORA, SAMUEL ABULUDE, KINGSLEY OKOH, ABIODUN SIVOWAKU, Lagos
Despite a downward adjustment in the gantry price of petrol by Dangote Petroleum Refinery, petroleum product marketers have continued to dispense the product to motorists and other users at the same prices as before.
The refinery announced that it has slashed the gantry price of Premium Motor Spirit (PMS) by N75 per litre, from N1, 250 to N1, 175 per litre, hopes were high that Nigerians would immediately feel the impact at the pump.
The refinery attributed the reduction to the de-escalation of geopolitical tensions in the Middle East and a significant decline in global crude oil prices.
The refinery also red...