The ongoing price war in Nigeria’s downstream oil sector continued on Thursday as the Dangote Refinery quietly lowered its petrol loading price from N825 to N815 per litre at its loading gantry.
This marks the third price reduction by the refinery in 2025, following similar adjustments on February 1 and February 26.
Oil marketers have reportedly welcomed the latest price cut, prompting many to bypass private depot owners and source fuel directly from the refinery. This move is expected to put pressure on private fuel depots, which may be forced to adjust their prices to stay competitive.
Meanwhile, on Tuesday, the landing cost of imported petrol in Nigeria fell to N774.72 per litre, leading industry analysts to speculate that pump prices could soon drop to around N800 per litre. Factors such as shipping costs, import duties, and exchange rate fluctuations have influenced the pricing dynamics, making imported fuel more attractive to retail marketers compared to locally refined products.
In response to these developments, depots in Lagos have started adjusting their prices, now selling petrol between N820 and N839 per litre to remain competitive with Dangote Refinery’s new pricing.
