The price war in the petroleum sector has continued to deepen as some retail outlets have dropped the prices of Premium Motor Spirit (petrol) below the N739 per litre recommended by the Dangote Petroleum Refinery.
The PUNCH reports that since the Dangote refinery slashed petrol pump prices from about N900 to N739 in December, many importers and depot owners have lamented mounting losses. To remain competitive, many operators were forced to sell petrol at rates below their costs.
During a survey over the weekend, our correspondent observed that some filling stations now sell PMS cheaper than MRS Oil, the main partner endorsed by the Dangote refinery to champion the price reduction to N739 per litre.
As of Sunday, NIPCO sold PMS at N738 per litre, SAO filling stations sold it at N735, while Akiavic offered the product at N737. An AP filling station beside an MRS outlet in Mowe, Ogun State, dropped its price to N736 per litre.
