N799: List of Some Marketers Selling Petrol Below Dangote, NNPC Prices
- Independent marketers and private depots are selling petrol below Dangote’s ex-gantry rate
- The changes is also reflected at several independent filling stations who sell below the Dangote's retail price
- Retail stations operated by independents continue to offer cheaper alternatives to stay competitive
Legit.ng journalist Dave Ibemere has extensive experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Independent marketers and private depot operators are offering petrol below Dangote Petroleum Refinery’s benchmark price to stay competitive.
The recent decision by Dangote to increase gantry price to N799 and retail price to N839 pushed pump rates at major retail outlets.
Source: UGC
Independent marketers reduce petrol price
Several private depots and independent marketers have opted to undercut the refinery-led pricing structure.
Market checks conducted by Petroleumprice.ng revealed that Aiteo sold petrol at N797 per litre, Matrix at N798 per litre, and Sheltuplux at N797 per litre.
These prices sit clearly below Dangote’s ex-gantry benchmark of N800, demonstrating the ability of independent depots to leverage alternative supply arrangements.
The undercutting extends beyond depot-level sales to retail stations.
Petrol is currently sold at Toluwaleshe Filling Station in Igando at N816 per litre, undercutting MRS’s N839 pump price.
Similarly, a Mobil-branded filling station in Isheri priced petrol at N815 per litre, reinforcing the competitive gap created by independent marketers.
Source: Getty Images
Analysts say the pricing behavior underscores the limits of refinery-led pricing in Nigeria’s downstream sector.
While Dangote and its retail partners aim to anchor prices, independents rely on thinner margins and strategic sourcing to maintain competitiveness.
NNPC petrol price
Meanwhile, the Nigerian National Petroleum Corporation (NNPC) Limited has once again raised the pump price of petrol, just 48 hours after the last increase.
Survey carried out by Legit.ng showed that petrol, which previously recently increased to N835 peer litre in Lagos has been raised by N57 to N892 over the weekend.
In Abuja, NNPC filling stations are now dispensing petrol at N875 per litre, up from N835 per litre.
Industry operators warned that unless global oil prices drop and the naira strengthens significantly, petrol retail price will continue to rise.
According to Chinedu Ukadike the National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria a sustained rise in crude oil prices would inevitably affect petrol pump prices across the country.
He explained that crude oil prices and exchange rates remain the primary determinants of domestic fuel prices, noting that changes in either could push petrol prices higher,Punch reports.
Nigeria petrol price drops below Ghana
Earlier, Legit.ng reported that the Major Energies Marketers Association of Nigeria (MEMAN) shows that Nigerians pay significantly less for Premium Motor Spirit (PMS), commonly called petrol, compared to many of their West African neighbors.
The report highlights that the average price of petrol in Nigeria remains relatively low, despite fluctuations in global oil markets and domestic supply costs.
This has allowed consumers to access fuel at rates far below what is charged in several neighboring countries.
Source: Legit.ng
