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Depot owners have cut petrol prices below Dangote Refinery’s rate, with Aiteo selling at N1,074 per litre and seven others at N1,075Eight depots now offer petrol cheaper than Dangote’s N1,076 ex-depot price, intensifying competition The latest price reductions could pave the way for lower pump prices nationwide at filling stations
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Nigeria’s downstream petroleum market has entered another round of intense price competition as depot owners cut the ex-depot prices of Premium Motor Spirit (PMS), with several marketers now selling below Dangote Petroleum Refinery’s latest price.
The fresh reductions came after Dangote Refinery lowered its ex-depot price to N1,076 per litre, prompting rival depot owners to adjust their rates to remain competitive.
Fresh depot price reductions could pave the way for another drop in petrol pump prices nationwide. Photo: BloombergSource:
