The price war in Nigeria’s downstream oil sector continued as Dangote Refinery quietly reduced its petrol loading price from N825 to N815 per liter on Thursday.
On Tuesday, the landing cost of imported petrol dropped to N774.72 per liter. Industry experts suggest this downward trend could bring pump prices down to around N800 per liter.
Factors like shipping costs, import duties, and exchange rate fluctuations have made imported fuel more attractive to retailers than sourcing from Dangote Refinery.
Speculation suggests that the potential drop in pump prices may have influenced the refinery’s decision to lower its rates.
Following this change, depots in Lagos have adjusted their prices, now selling petrol between N820 and N839 per liter to match the refinery’s new pricing.
