A competitive fuel price war has emerged between the Nigerian National Petroleum Company Limited (NNPC) and Dangote Petroleum Refinery, leading to reduced petrol prices for consumers across Nigeria.
NNPC recently slashed its pump price of petrol from N920 to N860 per litre, aligning with Dangote Refinery’s earlier reduction of its ex-depot price from N890 to N825 per litre.
This strategic move by both companies has intensified competition in the downstream oil sector, resulting in more affordable fuel prices for Nigerians.
The price reductions have created a ripple effect, attracting consumers to partner stations such as MRS, AP, and Heyden Petroleum, which have adjusted their prices accordingly.
This development underscores the impact of market dynamics on fuel pricing and the potential benefits to end-users.
Industry analysts note that this price war ultimately benefits Nigerians by making fuel more affordable.
However, concerns have been raised about the sustainability of these reduced prices, given that the landing cost of petrol currently stands at N969 per litre, leading to potential losses for petrol importers.
As the competition between NNPC and Dangote Refinery continues, Nigerians are experiencing the immediate advantage of lower fuel prices, providing some relief amidst economic challenges.
Credit: The Guardian Nigeria
