Dangote refinery cuts jet fuel price to N1,450 per litre

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

A source at the refinery confirmed this on Friday. The price dropped from N1,550 per litre to N1,450 per litre.

This change started on Tuesday.

This price cut comes just under two weeks after the refinery reduced the price of premium motor spirit (PMS), or petrol, by N75 per litre.

In a notice to oil marketers, the refinery explained that the petrol price change, which began on 16 June, was due to trends in the international energy market.

The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) urged refiners, depot owners, and fuel importers to adjust their ex-depot and retail prices in light of the falling global crude oil prices.

The association pointed out that the drop in crude oil prices gives operators in the downstream petroleum sector a chance to cut prices and ease costs for consumers.

Jet fuel is a major expense for airlines. So, changes in its price are closely monitored by people in the aviation industry.