NNPCL has reduced the retail price of petrol by N20 to N910 per litre, marking the latest move in the ongoing ‘price war’ in Nigeria’s petroleum industry. This shift comes after competition with Dangote Refinery and other major players.
- NNPCL’s petrol price now stands at N910 per litre, down from N935.
- Major players like MRS and Dangote Refinery also adjust their prices to stay competitive.
- The price reduction is the latest in a series of changes aimed at disrupting Nigeria’s fuel market.
- Petrol prices vary widely across different stations, with some selling up to N950 per litre.
- The price war is likely to continue as stakeholders compete to dominate the market.
The ongoing fuel price adjustments show the volatile nature of Nigeria’s petroleum market. This price war could benefit consumers in the short term, but the long-term effects on the industry and the economy remain uncertain. While drivers rejoice, questions about sustainable pricing models are beginning to emerge.
As NNPCL and its competitors continue to adjust prices, many are left wondering: Is this the beginning of more dramatic shifts in fuel pricing, or will the market stabilise?
