Managing Director of Financial Derivatives Company Limited, Bismarck Rewane, has said that the drop in the price of petrol will continue till June 2025.
He stated this during an appearance on Channels Television’s Business Morning on Tuesday.
Rewane also opined that the consumers will be the biggest beneficiaries of the price war between Dangote Refinery and NNPCL.
“So, generally, between now and June, we will see prices begin to decline. But after June, as things stabilise, depending on what happens in the global oil and currency market, we might begin to see some stabilisation.
“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.
According to him, Dangote Refinery’s reduction in the pump price of petrol is due to production cost efficiency, among other factors.
Dangote Refinery recently announced a reduction in its petrol pump price, following which the NNPCL also reduced its pump price to N860 per litre across its stations in Lagos State.
