Petrol depot prices declined across major supply locations on Tuesday as marketers introduced fresh price cuts amid growing competition in Nigeria’s downstream petroleum sector. The reductions narrowed the difference between depot prices in Lagos and those in other major supply centres. A similar trend was recorded in Port Harcourt, where Matrix reduced its petrol price by ₦3 to ₦1,243 per litre. The narrowing gap between the ₦1,216 per litre rate in Lagos and prices of about ₦1,245 per litre in other major markets also suggested that depot prices were gradually converging across the country. Meanwhile, depot prices for Automotive Gas Oil, popularly known as diesel, also declined in several locations.