New Petrol Prices as Private Depots Match Dangote Refinery Rate
Private fuel depots in Nigeria have begun matching the lower pricing set by the Dangote Refinery, leading to a reduction in petrol pump prices across the country. Industry experts suggest that lower landing costs for imports may lead to further price decreases in the near future.
Why it matters
Fuel pricing is a major economic driver in Nigeria, and increased competition in the downstream sector directly impacts consumer purchasing power.
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More filling stations across Nigeria could reduce petrol pump prices in the coming days after several private depot owners matched Dangote Refinery's gantry price of N1,215 per litre, intensifying competition in the downstream oil sector.
Depot pricing data shows that Dangote, Aiteo, Integrated, NIPCO, Matrix and Pinnacle are all selling petrol at N1,215 per litre, with African Terminal having also adjusted to that level. Lister and A.A. Rano quoted N1,216 per litre, while MRS was selling at N1,218 per litre.
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