The Dangote Refinery has effected a major downward review of its ex-depot petrol price, in what industry watchers describe as a strategic move to undercut the Nigerian National Petroleum Company Limited (NNPCL) and other market players.
Checks by DAILY POST on Petroleumpriceng early Friday indicated that the refinery’s ex-depot rate has been adjusted to N699 per litre, down from N828 per litre a reduction of N129, representing 15.58 per cent.
The latest slash, coming as the country approaches the Yuletide rush, is reportedly the refinery’s 20th price review this year, reflecting ongoing market volatility and increasing competitive pressure.
The development comes on the heels of recent cuts announced by NNPCL and several filling stations, which have reviewed pump prices at least twice in the last three weeks, bringing retail rates in Abuja to between N915 and N937 per litre.