This latest price cut comes after fuel landing cost dropped to N774.82 per litre, below Dangote Refinery’s N825 ex-depot prices.
But as opposed to the February 26, 2025, price cut, Dangote Refinery failed to confirm the new cut in prices. Reports says that he action is occurring at a time when the NNPC and Dangote, two titans in Nigeria’s downstream petroleum industry, are engaged in a price war.
The Independent Petroleum Marketers Association of Nigeria’s spokesman, Chinedu Ukadike, confirmed the report.
“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.
Concurrently, it is unclear if Dangote’s recent reduction in petrol prices will find its way into retail price reductions in its filling stations, including MRS, which sells at N860 per litre in Lagos and N880 in Abuja.
