Dangote Refinery Cuts Petrol Price to N815/Litre, Shaking Up Market
Dangote Petroleum Refinery on Thursday reduced its petrol loading cost from N825 per litre to N815 per litre, further intensifying the pricing war in the downstream sector.
Reports indicate that marketers are taking advantage of the N10 reduction by sourcing petrol directly from the refinery instead of relying on depot owners, who may be forced to lower their prices.
The landing cost of imported petrol currently stands at N774.72 per litre, factoring in shipping, import duties, and exchange rates. This lower cost had prompted some retail marketers to turn to imports instead of Dangote Refinery. Speculation that pump prices could drop to N800 per litre may have influenced Dangote’s latest price cut.
Meanwhile, depots in Lagos are adjusting their prices, now selling between N820 and N839 per litre.
AA RANO & MENJ: N830/litre, WOSBAB & RAINOIL: N831/litre, BOVAS & Integrated Depot: N826/litre, and AITEO: Reduced from N832 to N827/litre
This latest price shift signals increasing competition in the fuel market.
