A fierce price battle is brewing in Nigeria’s petroleum downstream as Dangote Refinery’s petrol price cuts send shockwaves through the industry, putting pressure on importers struggling with soaring costs.
With the landing cost of imported Premium Motor Spirit (PMS), also called petrol, now at N929.26 per litre, concerns are mounting over the viability of fuel imports and the potential market realignment driven by Dangote’s competitive pricing strategy.
The company’s latest move to reduce its ex-depot price from N950 to N890 per litre on Saturday has sent ripples through the market, intensifying competition and unsettling fuel importers. …CONTINUE READING
