Petrol retailers across Nigeria have reduced pump prices, selling fuel at rates lower than the price offered by the Dangote Refinery. The price cut is being driven by competition among marketers who are trying to attract more customers as fuel supply improves in many parts of the country.

Some independent marketers said the decision to reduce prices is also linked to lower landing costs and improved logistics, which have helped them manage expenses better. This has allowed them to sell fuel at a slightly cheaper rate than what the Dangote Refinery currently offers to marketers.

Consumers have welcomed the development, saying it has helped ease transport costs and reduce daily expenses. Many motorists expressed relief that fuel prices are gradually becoming more affordable after months of high costs and uncertainty.

Industry watchers say the trend shows that competition in the downstream oil sector is beginning to benefit Nigerians. They believe that as more refineries come on stream and supply improves, fuel prices may continue to stabilise and possibly fall further.