Petrol price heads to N1,500 per litre as crude prices drop
Nigeria’s domestic petrol depot prices, analysts said, continued to move differently from international crude oil benchmarks, highlighting the growing influence of local supply, refining, logistics and market conditions on downstream fuel prices.
The figures indicate that domestic petrol prices are no longer moving in lockstep with international crude oil prices, with other cost factors increasingly determining the price of products delivered to Nigerian depots and ultimately to filling stations.
The latest development therefore suggests that Nigeria’s petrol market is increasingly being shaped by domestic supply, refining capacity, logistics and market structure rather than crude oil prices alone.
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