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Six major petrol depots have slashed their pump prices in a bid to stay competitive, signalling another shift in Nigeria’s fuel market landscape.
  • Emadeb dropped from N903 to N827 per litre.
  • First Royal, MENJ, Aiteo, Pinnacle, and Hyde also cut prices by N1–N75.
  • Prices now align closely with Dangote Refinery’s N825/litre benchmark.
  • Depots reportedly imported petrol independently to drive market share.
A downstream insider says crude oil’s low price ($65/barrel) could drive further cuts.

PETROAN president Billy Gillis-Harry adds:
“The reductions are a response to market realities. Healthy competition is welcome, but too much could be risky for operators.”
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With depot prices matching Dangote’s, analysts predict the refinery may cut prices again to maintain its edge.