Dangote Slashes Petrol Loading Cost to N815/Litre Amidst Price War
In a move that's expected to spark a price war in the downstream oil sector, Dangote Petroleum Refinery has reduced its petrol loading cost from N825 to N815 per litre. This development comes on the heels of a report that the landing cost of petrol imported into Nigeria dropped to N774.72 per litre, prompting predictions of a possible reduction in pump prices to around N800 per litre.
The refinery's decision to lower its loading cost is seen as a strategic move to maintain its market share, as marketers had begun to opt for imported products due to their lower pricing. Industry stakeholders anticipate that private fuel depots will respond by adjusting their prices downward to remain competitive.
This latest reduction is the second price cut implemented by Dangote Refinery in recent weeks, following a previous decrease from N890 to N825 per litre in late February. The move is expected to drive down petrol prices nationwide, ultimately impacting the overall cost of living in the country.
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