Dangote Petroleum Refinery has further slashed the loading cost of petrol from N825 to N815 per litre, escalating competition in the downstream oil sector. This N10 reduction has prompted marketers to source petrol directly from the refinery, bypassing depot owners who may now be forced to lower their prices.
Reports indicate that the landing cost of imported petrol stands at N774.72 per litre, factoring in expenses like shipping, import duties, and exchange rates. This had previously led retail marketers to favor imports over Dangote Refinery. However, the refinery’s latest price cut appears to be a strategic move to regain market share.
In response, depots in Lagos have begun adjusting their prices, with rates now ranging between N820 and N839 per litre. Notable depots like AA RANO and MENJ are selling at N830 per litre, while WOSBAB and RAINOIL are priced at N831. BOVAS and Integrated depots are offering petrol at N826 per litre, and AITEO has reduced its price from N832 to N827.
This development signals a potential shift in the dynamics of Nigeria’s fuel market, as Dangote Refinery continues to influence pricing and competition.
