Africa’s largest refinery explains why falling oil prices don’t immediately translate to cheaper petrol after $4.5 billion crude spend
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Ayodeji Adegboyega
7h ago
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Business InsiderAfrica’s largest refinery explains why falling oil prices don’t immediately translate to cheaper petrol after $4.5 billion crude spendbusinessinsider.comThe Dangote Petroleum Refinery has offered its clearest explanation yet of why domestic fuel prices do not immediately fall when global crude oil prices decline, revealing it spent $4.48 billion importing crude over the past two months under supply contracts signed well before current market prices took effect.
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