Private depots slash petrol prices below Dangote's N1,127 per litre
By Aboki Forex —
The battle for market share in Nigeria's downstream petroleum sector has intensified. Private depot owners are now selling petrol below the price offered by Dangote Refinery.
Dangote recently reduced its petrol price to N1,127 per litre. That move followed changes in global crude oil prices. But independent depot operators have responded quickly with even lower rates.
According to Petroleumprice.ng, Aiteo and MRS Tincan sold Premium Motor Spirit at N1,125 per litre on Thursday, June 25. Bono, Quest, and African Terminal sold at N1,126 per litre. These rates undercut the Dangote-linked marketers.
This is not the first time independent depots have priced below their rivals. In the past week, several operators reduced both petrol and diesel prices to levels below Dangote rates.
Market stakeholders say the price cuts are a direct response to shifting dynamics in the wholesale market. Suppliers are trying to stay competitive and attract bulk buyers. The competition comes as Dangote Refinery plays a bigger role in supplying refined fuel to the country.
Experts attribute these price fluctuations to the deregulation of Nigeria's downstream sector. Operators can now adjust prices freely based on supply, demand, and competition. Market forces are clearly at work.
The current price gap between Dangote-linked marketers and independent depots is small. But repeated reductions could shape future market trends. Retailers and consumers hope the lower depot prices will reflect at the pump.