Yesterday, Dangote Petroleum Refinery reduced its depot price of Premium Motor Spirit (petrol) to N820 per litre from N838 per litre, reflecting intensifying competition in Nigeria’s domestic market. The price cut also followed a drop in global crude oil prices, which fell to $70 per barrel yesterday from over $77 per barrel in June 2025. Meanwhile, other operators similarly reviewed their depot prices to stay competitive. According to petrolprice.com, Dangote Refinery’s adjustment was the most significant. Fatgbems made the smallest change, lowering its price to N837 per litre from N838 per litre. Integrated Oil and Bovas both reduced their depot prices to N836 per litre from N837 per litre. AIPEC dropped its price to N837 per litre from N840 per litre, while First Royal adjusted to N838 per litre.