The Petroleum Products Retail Outlets Owners Association of Nigeria has said increased competition in the downstream petroleum sector forced the Dangote Petroleum Refinery to slash the ex-depot price of diesel by N200 per litre.
Checks on Petroleumprice.ng showed that the price of diesel dropped from N1,800 to N1,600.
The National Public Relations Officer of PETROAN, Dr Joseph Obele, disclosed the association’s position in a statement on Tuesday, describing the development as a clear indication that competition, not monopoly, would deliver lower fuel prices for Nigerians.
According to him, the refinery reduced the price of Automotive Gas Oil, popularly known as diesel, from N1,800 per litre to N1,600 per litre after fresh imported products entered the Nigerian market.
Obele said, “The Dangote refinery recently took legal action after NMDPRA granted five import licences to marketers for the importation of petroleum products.
