The Dangote Refinery has reversed its earlier adjustment of a N75 increase in the ex-depot price of petrol, deciding to maintain the price at N1,275 per liter instead of N1,350.
The reversal effectively nullifies the previous adjustment, reinstating the former pricing structure at the loading gantry, and alleviating immediate concerns among downstream marketers. Industry operators report that this action has helped soothe worries across the market, where traders had already started repositioning in anticipation of a higher pricing cycle.
