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Depot owners have slashed petrol prices below Dangote Refinery as competition intensifiesPMS now sells between N1,175 and N1,178 per litre, while diesel trades around N1,600–N1,601 per litre at major depots.The price reductions in the market are being driven by weaker global crude oil prices and rising competition
Several depot owners have matched or are selling petrol below the rates offered by Dangote Petroleum Refinery
On Tuesday, June 16, Dangote reduced its ex-gantry petrol price to N1,175 per litre, representing a N75 reduction from N1,250 per litre following recent declines in international crude oil prices.
Petrol prices drop below Dangote rates at private depots Photo: BloombergSource: UGC
Depots reduce petrol prices
Data obtained from Petroleumprice.ng on Wednesday showed that several depots have responded and have adjusted ex-depot prices downward, undercutting rates sold at Dangote Refinery to stay competitive.
For Premium Motor Spirit (PMS), Dangote traded at N1,178 per litre, while Aiteo reduced its price further to
