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Six private depot operators slash petrol prices, intensifying competition in Nigeria’s downstream petroleum marketPrices now closer to Dangote Refinery’s N1,165 per litre after its recent N50 reductionExperts anticipate further price cuts as supply increases and global crude oil prices fall
Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
Nigeria’s downstream petroleum market is heating up as six private depot operators cut their petrol prices, bringing their rates closer to the price offered by the Dangote Refinery.
The latest reductions are expected to intensify competition among fuel suppliers and could provide some relief for motorists and businesses if lower depot prices eventually translate into cheaper petrol at filling stations.
Private depots crash petrol prices to compete with Dangote Refinery. Credit: Bloomberg/ContributorSource: UGC
Dangote’s N50 price cut triggers fresh competition
The development comes just 48 hours after the 700,000-barrel-per-day Dangote Refinery announced a N50 reduction in the
