Several petrol retail stations across Nigeria have begun selling Premium Motor Spirit (PMS) at prices below the benchmark set by the Dangote Petroleum Refinery, marking an escalation in the ongoing price war in the downstream sector.
A recent survey found that some filling stations are offering petrol cheaper than the N739 per litre price recommended by the Dangote refinery and its partner outlets. Stations such as NIPCO, SAO and Akiavic were observed selling fuel at rates around N735–N738 per litre, with others dipping even lower in competitive areas.
Industry analysts say the trend reflects intense market competition after Dangote’s significant price cuts in December, prompting retailers to reduce pump rates to retain customers despite tight margins and potential losses.
Consumers have welcomed the lower prices, though some marketers warn that sustained under-pricing could strain smaller operators if market conditions do not improve.
