Dangote sells petrol at N1,215 per litre, lowest depot price in Nigeria
By Aboki Forex —
Dangote Petroleum Refinery is offering petrol at N1,215.00 per litre, the lowest ex-depot price among all private depots tracked across Lagos, Warri and Calabar. The price undercuts every competing facility in the latest market data.
Private depots in the three major distribution hubs are quoting between N1,216.00 and N1,230.00 per litre. That puts the gap between Dangote and the most expensive depot at N15.00 per litre.
Depot prices by location
In Lagos, Aiteo, Ascon, Gulf Treasure, Nipco, Pinnacle and Shema are selling at N1,216.00 per litre. Ardova and Emadeb have set their prices at N1,217.00 per litre, while MRS is the most expensive Lagos depot on the list at N1,222.00 per litre.
In Warri, Mainland, Sobaz and Soroman are selling at N1,220.00 per litre. Matrix is quoting N1,225.00 per litre, up from around N1,218.00 previously.
As at Friday, July 31, Calabar depots show higher prices. Sigmund is at N1,222.00 per litre. A.Y.M Shafa, Nepal and Optima are all pegged at N1,228.00 per litre. Rain Oil recorded the highest price among all listed depots at N1,230.00 per litre.
What it means for pump prices
The pricing advantage gives Dangote Refinery a clear edge in attracting independent marketers who buy fuel in bulk for retail distribution. Industry operators say a larger volume of marketers sourcing directly from the refinery could create downward pressure on pump prices at filling stations nationwide, especially if the cost difference is passed on to consumers.
Motorists, commercial transport operators and households that rely on petrol-powered generators stand to benefit if retailers adjust pump prices in line with the lower procurement costs.
Context: NNPC also cut prices
The development follows a recent petrol price cut by the Nigerian National Petroleum Company (NNPC) Limited. NNPC reduced its pump price in Lagos by N35 per litre, from N1,300 to N1,265. In Abuja, the price dropped by N15 per litre, from N1,350 to N1,335.
Observers in the downstream sector say ongoing competition among depot owners may keep ex-depot prices under further pressure in the weeks ahead, as suppliers compete for independent marketers' business. For the naira and Nigerian businesses, cheaper ex-depot prices could lower operating costs for transporters and manufacturers, provided retailers pass on the savings.