The Dangote Petroleum Refinery has once again stirred the market by reducing its petrol loading price from ₦825 per litre to ₦815 per litre. This move, which took effect on Thursday, intensifies the ongoing price war in Nigeria’s downstream oil sector, as market forces continue to shape fuel pricing dynamics.
This latest cut follows a ₦65 reduction two weeks ago, bringing the ex-depot price from ₦890 down to ₦825 per litre. With petrol importation costs also falling to ₦774.72 per litre, industry players anticipate that pump prices could soon settle around ₦800 per litre. Oil marketers, sensing an opportunity, are shifting their focus to Dangote’s refinery, sidelining other suppliers in the process.
Analysts suggest that this pricing strategy is a competitive play to secure market dominance. The National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Chinedu Ukadike, described it as the natural effect of deregulation, where players battle for market share. Meanwhile, an unnamed Dangote Refinery official refrained from confirming the adjustment but advised that reports rely on market feedback. With competition heating up, the real question remains—how low can prices go?