Multiple petroleum depot owners have lowered their ex-depot petrol prices to N1,075 per litre, matching the current pricing set by the Dangote Refinery. Observations by DAILY POST confirm that companies including Sahara, Ardova, Pinnacle, and Heyden adjusted their rates downward from a previous peak of N1,095 per litre this Friday.
This shift follows the Dangote Refinery’s recent announcement that it would provide free petrol delivery to Abuja and five additional states at the same N1,075 rate. Industry observers suggest that the refinery might lower its gantry prices further to maintain a competitive edge against other depot operators.
Over the past month, both the Dangote Refinery and independent depot owners have collectively reduced fuel prices by at least N120 per litre, contributing to a broader decrease in petrol pump costs. These market fluctuations occur despite regional instability in the Middle East, though New York Federal Reserve Bank President John Williams noted on Thursday that energy costs are expected to remain stable despite recent regional airstrikes.
