The price war in the country’s oil downstream sector took another dimension as petrol retailers reduced their fuel price below Dangote Refinery’s fixed rate of N739 per liter to have a competitive advantage.

Recall that Aliko Dangote, president of Dangote Refinery, MRS filling station nationwide, began a N739 per liter fuel price to edge out petrol marketers and importers.

The move came after Dangote slashed its ex-depot price to N699 per liter and benchmarked his petrol retail price at MRS filling stations at N739 per liter.

This has placed Dangote Petrol at a cheaper price advantage since December last year, as other petrol retailers, including Nigerian National Petroleum Company Limited, have been dispensing the product between N815 and N840 depending on the location.
However, in a fresh move, fuel retailers have reviewed their price to be lower than Dangote petrol in Lagos.

As of Sunday, NIPCO sold PMS at N738 per liter, SAO filling stations sold it at N735, while Akiavic offered the product at N737. An AP filling station beside an MRS outlet in Mowe, Ogun State, dropped its price to N736 per liter.

However, in Abuja fuel prices across NNPCL, Rano Oil, Empire Energy, NIPCO, AA Rano, and AYM Shafa stood between N815 and N839 per liter as of Monday morning.

Earlier, the spokesperson of the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike, had told DAILY POST reports that their members are favorable despite cheaper petrol for onward sale to Nigerians.