Depot owners and the Nigerian National Petroleum Company Limited (NNPC) have recently reduced petrol prices, intensifying competition with the Dangote Refinery in Nigeria’s downstream oil sector.
Key Developments:
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Depot Price Reductions: Several depot operators, including Aiteo, AIPEC, A.A. Rano, and NIPCO, have lowered their ex-depot petrol prices to between ₦826 and ₦827 per litre, undercutting Dangote Refinery’s average ex-depot price of ₦830 per litre.
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NNPC’s Retail Price Adjustment: NNPC Retail has adjusted its pump price to ₦870 per litre, which is below the ₦875 per litre currently charged at Dangote-supplied outlets.
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Dangote Refinery’s Response: In response to market pressures, Dangote Refinery has reduced its petrol gantry price to ₦825 per litre, offering a ₦10 rebate to its customers.
