New Petrol Price: Dangote Rates Lower Than Private Depots Nationwide
- Dangote Refinery is currently offering petrol at N1,215.00 per litre, below every private depot tracked in the latest market data
- Private depots in Lagos, Warri and Calabar are quoting prices ranging from N1,216.00 to N1,230.00 per litre
- Industry operators are watching whether independent marketers will source more fuel from Dangote and pass savings to pump customers
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Dangote Petroleum Refinery is selling petrol at the lowest ex-depot price in Nigeria, with the latest market data showing its gantry price at N1,215.00 per litre, undercutting every private depot tracked across Lagos, Warri and Calabar.
The figures, drawn from current depot pricing across the country's key petroleum distribution hubs, confirm that no competing facility is offering premium motor spirit (PMS) at a comparable rate.
Source: Getty Images
Dangote Leads on Depot Pricing
Petroluemprice.ng reports that in Lagos, several major private depots, including Aiteo, Ascon, Gulf Treasure, Nipco, Pinnacle and Shema, are selling at N1,216.00 per litre.
Ardova and Emadeb have set their prices slightly higher at N1,217.00 per litre, while MRS is the most expensive Lagos depot on the list at N1,222.00 per litre.
The gap is wider outside Lagos. In Warri, depots such as Mainland, Sobaz and Soroman are selling at N1,220.00 per litre, with Matrix quoting N1,225.00 per litre; previously, the price was around N1,218.
As at Friday, July 31, Calabar depots show even higher prices, with Sigmund at N1,222.00 per litre, A.Y.M Shafa, Nepal and Optima all pegged at N1,228.00 per litre, and Rain Oil recording the highest price among all listed depots at N1,230.00 per litre.
That puts the spread between Dangote's price and the most expensive private depot at N15.00 per litre.
What This Could Mean for Pump Prices
The pricing advantage gives Dangote Refinery a clear edge in attracting independent marketers who buy fuel in bulk for retail distribution.
Industry operators say a larger volume of marketers sourcing directly from the refinery could create downward pressure on pump prices at filling stations nationwide, particularly if the cost difference is passed on to end consumers.
Motorists, commercial transport operators and households that depend on petrol-powered generators stand to benefit if retailers adjust pump prices in line with the lower procurement costs.
Source: UGC
Punch reports that observers in the downstream sector also note that ongoing competition among depot owners may keep ex-depot prices under further pressure in the weeks ahead, as suppliers compete for independent marketers' business.
NNPC reduces petrol price by N35
Earlier, Legit.ng reported that the Nigerian National Petroleum Company (NNPC) Limited has cut the pump price of petrol at its filling stations in Lagos and Abuja, offering some relief to motorists grappling with high living costs.
The reduction was the steeper of the two, with NNPC lowering its pump price by N35 per litre from N1,300 to N1,265.
In the Federal Capital Territory, the state-owned company brought the price down by N15 per litre, from N1,350 to N1,335.
Source: Legit.ng
