Dangote Refinery slashes petrol price to N815/Litre amid intense market competition

In a significant move impacting Nigeria’s downstream oil sector, the Dangote Refinery has reduced its ex-depot price for Premium Motor Spirit (PMS) to N815 per litre.

This price adjustment follows a drop in the landing cost of fuel, which recently fell to N774.82 per litre, bringing it below Dangote Refinery’s previous ex-depot price of N825 per litre.

Confirming the price reduction, Chinedu Ukadike, spokesperson for the Independent Petroleum Marketers Association of Nigeria (IPMAN), noted that the development is part of an ongoing market adjustment driven by changing fuel importation costs and local supply dynamics.

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The move comes amid an escalating price war between Nigeria’s major oil players, particularly between Dangote Refinery and the Nigerian National Petroleum Company Limited (NNPC).

In recent months, both entities have engaged in strategic pricing adjustments to capture market share and influence fuel distribution across the country.

Industry analysts believe the latest price revision could intensify competition further, with consumers and marketers closely watching how the NNPC and other fuel suppliers respond to the development.

As Nigeria navigates its evolving energy landscape, the battle for control in the petroleum sector is expected to shape pricing trends, supply chain stability, and long-term fuel affordability for businesses and consumers alike.