Dangote Refinery has again reduced the price of petrol price to N815 per litre amid ongoing price war in the market.
There has been ongoing price war between major players in Nigeria’s downstream oil sector.
The spokesperson of the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike, confirmed the development.
“It is true. There is speculation that the price of imported products is now lower. That is the reason for the price war.
“It is the beauty of deregulation. Dangote has millions of litres and would not want any external force to take its market share. So it would have forced the price reduction,” he said.
Meanwhile, it is not clear if Dangote’s latest petrol price reduction will lead to retail price reduction across its filling stations, such as MRS, which sells for N860 per litre in Lagos and N880 in Abuja.
In the past months, both Dangote Refinery and Nigerian National Petroleum Company Limited have engaged in a price war.
