DANGOTE Petroleum Refinery on Friday reduced the loading coast of its petrol from N825 per litre to N815 per litre, further intensifying the pricing war in the downstream sector.
Report has it that marketers are taking advantage of the N10 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 N774.72 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.
The landing cost was speculated to cause a reduction in pump price to N800 per liter, which may have prompted the latest reduction by the refinery.
Meanwhile, depots in Lagos are beginning to effect price changes, selling between N820 and N839 to reflect the new reduction offered by the refinery.
Depots like AA RANO and MENJ are selling at N830 per liter while WOSBAB and RAINOIL sell at N831.
Bovas sells a litre at N826, likewise Integrated depot while AITEO changed its price from N832 to N827.
