The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has raised concerns over recent fluctuations in fuel prices, citing a price war between the Nigerian National Petroleum Company Limited (NNPCL) and Dangote Refinery.

Last week, NNPCL slashed petrol prices to N860–N880 per litre, down from N945–N965, following a similar reduction by Dangote Refinery. PETROAN stated that this abrupt price cut led to billions of naira in losses for fuel marketers.

In response, PETROAN spokesman Joseph Obele called for a six-month price stability mechanism, urging the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to intervene and ensure fair pricing.

“For the average citizen, sudden spikes in fuel prices can lead to financial strain and uncertainty,” Obele noted, emphasizing the importance of market liberalization and regulatory oversight.

Amid ongoing challenges in crude supply and pricing, industry stakeholders continue to push for measures to stabilize Nigeria’s petroleum sector.