Nigeria, March 14 -- For the second time in Ramadan period, Dangote Petroleum Refinery has announced a reduction of its petrol loading cost from N825 per litre to N815 per litre.

According to reports, the new price introduced on Thursday saw many marketers now bypassing private depots to source fuel directly from the refinery as the N10 reduction is expected to pressure private depot owners into lowering their prices to remain competitive.

Earlier in the week, reports showed that the landing cost of imported petrol had dropped to N774.72 per litre.

Marketers said this decline could soon push pump prices to about N800 per litre.

The ongoing price competition started when the cost of imported petrol, which includes shipping, import duti...