The Dangote Refinery has significantly reduced its ex-depot petrol price in a move seen as an effort to strengthen its market position against the Nigerian National Petroleum Company Limited (NNPCL) and other fuel marketers.
Checks by DAILY POST on Petroleumpriceng on Friday showed that the refinery’s ex-depot price fell to N699 per litre, down from N828. The N129 reduction represents a 15.58 per cent cut.
The review marks roughly the 20th price adjustment by the refinery this year and comes just weeks before the festive season, when fuel demand typically rises.
The latest cut follows recent reductions by NNPCL and private filling stations, which have lowered pump prices at least twice over the past three weeks. Retail petrol prices in Abuja currently range between N915 and N937 per litre.
