The Dangote Petroleum Refinery has reduced its gantry price for aviation turbine kerosene (ATK), commonly known as jet fuel, to N1,450 per litre.

A source at the refinery confirmed the development on Friday, saying the price was reduced from N1,550 per litre to N1,450 per litre.

According to the source, the adjustment took effect on Tuesday.

The latest reduction comes less than two weeks after the refinery lowered the ex-depot price of premium motor spirit (PMS), also known as petrol, by N75 per litre.

In a circular to oil marketers, the refinery said the petrol price adjustment, which took effect on 16 June, followed developments in the international energy market.

READ ALSO; Dangote refinery raises processing capacity to 700,000 barrels per day

PETROAN calls for price review

Following the decline in global crude oil prices, the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) called on refiners, depot owners and fuel importers to reflect the changes in their ex-depot and retail prices.

The association said lower crude oil prices provide an opportunity for operators in the downstream petroleum sector to reduce prices and provide relief for consumers.

Jet fuel remains one of the major operating costs for airlines, making changes in its price closely watched by operators in the aviation sector.

Dangote Refinery Reduces Jet Fuel Price to N1,450 Per Litre

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