A fresh downward review of ex-depot fuel prices by the Dangote Petroleum Refinery has triggered a highly anticipated price war across Nigeria's downstream petroleum sector, providing immediate relief at local retail pumps.
The topic is trending rapidly because the 650,000-barrel-per-day refinery announced a strategic price cut, slashing its gantry price for Premium Motor Spirit (PMS/Petrol) down to ₦1,250 per litre (from ₦1,275) and reducing diesel (AGO) to ₦1,700 per litre.
Dangote Refinery management stated that the move was intentionally rolled out to lower transportation overheads and support domestic economic activities.
This has forced private depots (such as Aiteo, African Terminal, and Ardova) to aggressively narrow the gap, with some depots crashing their own loading rates to ₦1,251 per litre to remain competitive.
As a direct result of this ex-depot price war, major filling stations have substantially adjusted their retail pump meters downward.
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Independent outlets like MRS, NIPCO, and Heyden across Lagos and Ogun states have successfully dropped retail petrol prices below the ₦1,300 benchmark, selling at between ₦1,286 and ₦1,290 per litre.
Concurrently, the state-owned NNPCL retail outlets in major hubs like Abuja have slashed their pump prices from ₦1,364 to ₦1,335 per litre, sparking widespread optimism that fuel prices will continue to slide as long as localized refining capacity optimizes distribution channels.
Sources: The Punch, Daily Post Nigeria, Channels Television, PetroleumPrice Market Intelligence.
#DangoteRefinery #FuelPriceCut #PetrolPrice #NigeriaEconomy #NNPCL #DownstreamSector #DieselPrice #Marketers PriceWar
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