Independent Oil Marketers Boost Supply As More Depots Slash Petrol Price Below Dangote’s Rate

• Two vessels carrying fresh fuel cargoes are scheduled to arrive at Calabar and Warri ports, respectively
• The cargoes which are from Dangote Petroleum Refinery are expected to boost supply across South-South Nigeria
• There is currently price competition between Dangote refinery and private depots on petrol cost

Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

Two fuel vessels, Watson and St Walga, are scheduled to arrive at Nigerian ports in Calabar and Warri, respectively, carrying shipments of Premium Motor Spirit (PMS) and Automotive Gas Oil (AGO).

The development, confirmed in Monday’s Daily Tanker Report seen by Legit.ng, signals a significant supply boost for the South-South region amid rising demand and heightened competition among independent marketers.

The Watson, loaded with 20,500 metric tonnes of PMS, is expected at the Zone 4 depot in Calabar. The cargo, sourced by a private importer, is designated for bulk inland distribution across Cross River, Akwa Ibom, and Abia states.

Its arrival is expected to ease supply pressures in the Eastern corridor and help maintain retail prices between N870 and N900 per litre of petroleumprice.ng reports.

Meanwhile, St Walga is en route to Warri Port with 16,500 metric tonnes of diesel.

The vessel, which was loaded at the Dangote Lekki terminal, is scheduled to discharge at the AYM Shafa Jetty in Warri.

The AGO shipment is expected to support industrial and logistics operations across Delta, Edo, and Kogi states.

Petrol price drop

The development is coming at a time when private depot owners are pushing hard to attract customers with cheaper products.

Between June 23 and 27, major private depots in Lagos, including Aiteo, Nipco, and AIPEC, have cut their ex-depot rates for Premium Motor Spirit (PMS) to N870 and N874 per litre.

This is lower than the N880 rate offered by Dangote Petroleum refinery to marketers.

The ex-depot price is the cost at which fuel is sold to marketers before it reaches filling stations.

The price war extends beyond petrol.

For Automotive Gas Oil (AGO), commonly known as diesel, major depots such as African Terminal, Ibachem, Menj, Mao, and Ibeto are maintaining stable prices at N1,000 per litre.

Dangote’s AGO remains higher at N1,023 per litre, with only Rainoil offering a price closer at N1,003.

In the Liquefied Petroleum Gas (LPG) segment, Dangote has also lost its pricing advantage.

Ardova and other depots are offering LPG at N890 per kilogram, the same rate as the Dangote refinery.

NNPC increases fuel price

Earlier, Legit.ng reported that the Nigerian National Petroleum Company Limited (NNPCL) has increased its petrol pump price to N915 per litre in Lagos on Sunday, June 22.

This new price represents a N45 increase from the previous pump price of N870 per litre.

Ardova, Mobil, Petrocam, Hyden, Matrix and other filling stations have also made changes to their pump price above N900 per litre.

Source: Legit.ng