N799: List of Some Marketers Selling Petrol Below Dangote, NNPC Prices
- Independent marketers and private depots are selling petrol below Dangote Refinery’s ex-gantry rate
- The changes are also reflected at several independent filling stations that sell below Dangote's retail price
- Retail stations operated by independents continue to offer cheaper alternatives to stay competitive in Nigeria
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 the gantry price to N799 and the retail price to N839 pushed pump rates at major retail outlets in Nigeria.
Source: UGC
Independent marketers reduce petrol price in Nigeria
Several private depots and independent marketers in the country have opted to undercut the refinery-led pricing structure.
Market checks conducted by Petroleumprice.ng showed that Aiteo sold petrol at N797 per litre, Matrix at N798 per litre, and Shellplux 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 being 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.
Analysts said that the pricing behaviour underscored the limits of refinery-led pricing in Nigeria’s downstream sector.
While the Dangote Group and its retail partners aim to anchor prices, independents rely on thinner margins and strategic sourcing to maintain competitiveness.
Source: Getty Images
NNPC raises petrol price at pumps
Meanwhile, the Nigerian National Petroleum Corporation (NNPC) Limited has once again raised the pump price of petrol, just 48 hours after the last increase.
A survey carried out by Legit.ng showed that petrol price, which recently increased to N835 per litre in Lagos, jumped by N57 to N892 over the weekend.
In Abuja, NNPC filling stations were confirmed to now be 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 prices would 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.
According to Punch, 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.
Nigeria's petrol price drops below Ghana's
Earlier, Legit.ng reported that the Major Energies Marketers Association of Nigeria (MEMAN) showed that Nigerians pay significantly less for Premium Motor Spirit (PMS), commonly known as petrol, compared to many of their West African neighbours.
The report highlights that the average price of petrol in Nigeria remains relatively low, despite fluctuations in global oil markets and domestic supply costs, which have allowed consumers to access fuel at rates far below what is charged in some neighbouring countries.
Proofreading by James Ojo, copy editor at Legit.ng.
Source: Legit.ng
