Filling Stations Still Sell Petrol Above N1,240 Despite Dangote Refinery's N50 Price Cut

Dangote Refinery has slashed its ex-depot petrol price by N50 per litre, but most filling stations across Nigeria have not passed the savings on to consumers. The refinery cut the price from N1,215 to N1,165 per litre, effective August 6, yet pump prices remain between N1,240 and N1,260 per litre at many outlets.

Dangote also reduced its diesel price by N80 per litre, from N1,650 to N1,570. Despite the adjustment, checks at filling stations showed that the majority of fuel marketers, both major outlets and independent stations, continued to sell petrol at the old higher rates. Even MRS, one of Dangote Refinery's key offtakers and strategic partners, had not revised its pump prices as of Thursday.

Consumers Demand Regulatory Action

Motorists and transport workers are now calling on regulators to step in. A tricycle operator at Ogba Bus Stop in Lagos, Jude Opara, said customers understood that stations needed to factor in their margins, but argued that pump prices should have fallen to around N1,200 per litre given the new ex-depot rate.

A Bolt driver, Shile Giwa, went further. He called on the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Federal Competition and Consumer Protection Commission (FCCPC) to intervene. Giwa accused marketers of applying a double standard, raising pump prices quickly when their costs increase but dragging their feet when costs fall.

Dangote Defends Price Cut

Dangote Petroleum Refinery said the reduction reflected improved operational efficiency and its commitment to making petroleum products more affordable. The refinery added that it would continue to transfer such savings to consumers whenever market conditions permitted. It framed the move as part of its broader goal of supporting economic activity and reducing Nigeria's dependence on imported fuel.

The latest cut adds to a series of price adjustments the refinery has made since it began supplying the domestic market. It is working to cement its position as the country's primary source of refined petroleum products and strengthen domestic energy security.

Private Depots Join the Price War

This development comes just 48 hours after the 700,000-barrel-per-day Dangote Refinery announced the N50 reduction in the prices of Premium Motor Spirit (PMS) and Automotive Gas Oil (AGO). Separately, six private depot operators have also cut their petrol prices, bringing their rates closer to the price offered by the Dangote Refinery.

These latest reductions are expected to intensify competition among fuel suppliers. For Nigerian motorists and businesses, the real test is whether lower depot prices will finally translate into cheaper petrol at the pump. As long as filling stations keep prices above N1,240, consumers will continue to bear the full cost of the previous rate.