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By Dada Ahmed, Lokoja
The price war between the Dangote Refinery and other stakeholders in the downstream petroleum sector—already forcing some retailers to sell Premium Motor Spirit (petrol) below Dangote’s ₦739 per litre benchmark—appears to be spreading to Kogi State.
Our correspondent reports that in Lokoja, the state capital, many filling stations are reportedly considering a downward review of pump prices after one outlet reduced its price from ₦900 to ₦739 per litre, according to The Reporters.
The online media platform further reports that another station on Ganaja-Gadumo Road has begun lowering its petrol price from ₦840 to ₦810 per litre, followed by a Marine Road station cutting its price from around ₦1,000 to ₦769 per litre.
Some motorists and petrol users who spoke with our correspondent welcomed the development, urging stakeholders in the downstream sector to intensify the price war to make petrol more affordable and help curb rising transport fares.
“For me, I see the price battle among stakeholders in the downstream petroleum industry as a positive development,” said car owner Alhaji Yahaya Abdullahi.
“Since the ultimate benefit goes to the people, I welcome it. I know that soon, I will be able to buy petrol at an affordable price and still have money left for my social and economic needs.”
Our correspondent also reports that motorists have begun responding to the petrol price cuts, flocking to stations with reduced rates while avoiding those that continue to charge higher prices.
Checks by Consumer connect indicate revealed that price-induced competition has continued to deepen as some retail outlets have dropped the prices of petrol below the N739 per litre recommended by the Dangote Petroleum Refinery, Lagos.
