Again, Dangote reduces petrol price
Dangote Petroleum Refinery on Friday reduced the loading cost of its petrol from ₦825 per litre to ₦815 per litre, further intensifying the pricing war in the downstream sector.
Report has it that marketers are taking advantage of the ₦10 reduction by sourcing petrol directly from the refinery instead of relying on depot owners who may be forced to embark on a downward adjustment of their price.
This newspaper learnt that the landing cost of imported petrol is ₦774.72 per litre.
The cost, which factors in various expenses, including shipping, import duties, and exchange rates, prompted retail marketers to opt for importation, ditching Dangote Refinery.
READ ALSO: Dangote cuts petrol price to ₦860 in Lagos
The landing cost was speculated to cause a reduction in pump price to ₦800 per liter, which may have prompted the latest reduction by the refinery.
Meanwhile, depots in Lagos are beginning to effect price changes, selling between ₦820 and ₦839 to reflect the new reduction offered by the refinery.
Depots like AA RANO and MENJ are selling at ₦830 per liter while WOSBAB and RAINOIL sell at ₦831.
Bovas sells a litre at ₦826, likewise Integrated depot while AITEO changed its price from ₦832 to ₦827.
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