Dangote Petroleum Refinery has announced a further reduction in the loading cost of petrol, lowering it from N825 per litre to N815 per litre on Thursday. The move intensifies competition in Nigeria’s downstream sector, prompting shifts in market dynamics. Industry reports indicate that marketers are capitalizing on the N10 price reduction, choosing to source directly from Dangote Refinery rather than relying on depot owners, who may now be forced to adjust their prices downward to remain competitive. According to sources, the landing cost of imported petrol currently stands at N774.72 per litre, factoring in shipping expenses, import duties, and fluctuating exchange rates. This has led some retail marketers to favor imports over purchasing from Dangote Refinery. However, the recent price reduction may influence market behavior, potentially driving pump prices down to N800 per litre. In response to these changes, several fuel depots in Lagos have begun revising their prices to align with the refinery’s new rate. Depot operators are now selling between N820 and N839 per litre, reflecting the adjustment. For instance: AA RANO and MENJ depots now sell at N830 per litre WOSBAB and RAINOIL have set their prices at N831 per litre BOVAS and Integrated Depot have lowered their rates to N826 per litre AITEO adjusted its price from N832 to N827 per litre This ongoing price competition highlights the evolving landscape of Nigeria’s petroleum sector, with Dangote Refinery’s pricing strategy playing a crucial role in shaping market trends and influencing consumer costs.
Amidat
