
Bismarck Rewane, Managing Director of Financial Derivatives Company Limited, has predicted that petrol prices will keep dropping until June 2025.
Speaking on Channels Television’s *Business Morning* on Tuesday, Rewane stated that the downward trend would persist until mid-year. He also highlighted that the ongoing price competition between Dangote Refinery and NNPCL would ultimately favor consumers.
He said, “So, generally, between now and June, we will see prices begin to decline. But after June, as things stabilize, depending on what happens in the global oil and currency market, we might begin to see some stabilization.
“In a price war, nobody wins; the consumers win in the short run, and then eventually, the market goes back to where it should be. But, at the end of the day, between now and June, the price leadership will be firmly established,” Rewane said.