Petroleum retailers and marketers have expressed the hope of a further reduction in the pump price of premium motor spirit as the Nigerian National Petroleum Company Limited and Dangote Refinery commenced a fresh price war following fuel drops by both firms.
They expressed the believe following the announcement on Monday of a new petrol prices of N860 and N880 per litre, respectively, in Lagos, the Federal Capital Territory, Abuja, and across the country, respectively, by the NNPC.
This comes barely six days ago, after Dangote Refinery dropped its petrol price to N880 per litre in its partners’ fuel outlet, MRS filling station, and other filling stations in Abuja.
Reacting to the development, National President of Petroleum Retailers Outlets Owners Association and his counterpart in the Independent Petroleum Marketers Association of Nigeria, Billy Gillis-Harry and Abubakar Maigadi, said Nigerians should expect more petrol price drops amid the competition between NNPCL and Dangote refinery.
Gillis-Harry pointed out that Nigerians are in an advantageous position, stressing that the war has brought smiles to the faces of Nigerians battered by the rising cost of living.
Also speaking, Maigandi observed that what is happening in the downstream oil and gas sector is the beauty of deregulation.
“It is not surprising because Dangote petrol is selling at that rate.
“This is what we have been telling the government to deregulate the sector. The price will start coming down. Investors have started coming,” he stated.
