The Independent Petroleum Marketers Association of Nigeria, IPMAN, has announced that the pump price of petrol will reduce to N935 per litre by Monday. According to IPMAN, the development was occasioned by its new deal with Dangote Refinery.
IPMAN National President, Alhaji Maigandi Garima, who disclosed this on Sunday in Abuja, commended the Dangote refinery for the development
According to Garima, 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.
Dangote Refinery had recently announced a reduction in fuel price from N970 per litre to N899.50 per litre at its loading gantry.
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.
The price reduction which is designed to alleviate transport cost during the festive period and beyond, has already commenced in Lagos, and will be applicable nationwide from Monday(Today). The IPMAN leader expressed the hope that the competition being witnessed in the downstream sector at the moment would see the price of fuel dropping continuously.
