Dangote And Marketers Fuel Price Battle Continues
Nigeria’s petrol price remained above N1,000 per litre despite the recent drop in global crude oil prices, as marketers and the Dangote Petroleum Refinery continue to hold their current rates.
Many consumers had expected a sharp reduction after crude prices fell to about $70 per barrel, but only slight adjustments have been made.
A senior official at the refinery said the company still has crude bought at higher prices and questioned why fuel importers, who reportedly source cheaper products, have not reduced their own pump prices.
The official maintained that the government should also focus on importers instead of expecting the refinery to lower prices first.
Fuel marketers said importers are waiting to see the refinery’s next move before making major price cuts, fearing another price war that could lead to heavy losses.
They added that frequent changes in refinery prices have already affected many independent marketers.
Although some depots reduced their loading prices, petrol remained expensive across the country.
The Federal Government has urged operators to avoid exploiting consumers, while marketers insisted that any attempt to control prices under a deregulated market could force filling stations to suspend operations.
