Dangote Sells Petrol Cheapest as Depots Release New Prices
- Dangote Refinery and Pinnacle are selling petrol at N1,166 per litre, the lowest depot price on the latest list
- Petrol prices across the listed depots range between N1,166 and N1,182 per litre
- The latest depot prices could influence pump prices as marketers adjust to changing supply costs
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Private depots have adjusted their petrol prices, but Dangote Refinery remains the cheapest place to buy petrol at N1,166 per litre, down from N1,215 previously.
The latest depot price list shows that PMS prices range from N1,166 to N1,182 per litre across the locations listed.
Source: UGC
Dangote Refinery and Pinnacle are currently the lowest-priced suppliers, while Liquid Bulk and Matrix recorded the highest price of N1,182 per litre.
The latest prices come as marketers continue to monitor depot prices and supply conditions in Nigeria's downstream petroleum market.
Changes in petrol prices
The latest data show that Dangote Refinery and Pinnacle are offering petrol at N1,166 per litre.
MRS followed with a depot price of N1,172 per litre, while A. A Rano, AIPEC, Aiteo, Ardova, NIPCO, A.Y.M Shafa, Matrix and Optima were listed at N1,175 per litre.
Nepal's PMS price stood at N1,177 per litre.
Other depots, including African Terminal, Integrated and Wosbab, recorded N1,179 per litre, while NIPCO and Mainland were listed at N1,180 per litre.
Liquid Bulk and Matrix recorded the highest PMS price on the list at N1,182 per litre.
Snapshot of petrol prices across selected depots
- Dangote - N1,166/litre
- Pinnacle - N1,166/litre
- MRS - N1,172/litre
- A.A Rano - N1,175/litre
- AIPEC - N1,175/litre
- Aiteo - N1,175/litre
- Ardova - N1,175/litre
- NIPCO - N1,175/litre
- A.Y.M Shafa - N1,175/litre
- Matrix - N1,175/litre
- Optima - N1,175/litre
- Nepal - N1,177/litre
- Soroman - N1,178/litre
- African Terminal - N1,179/litre
- Integrated - N1,179/litre
- Wosbab - N1,179/litre
- Mainland - N1,180/litre
- NIPCO - N1,180/litre
- Liquid Bulk - N1,182/litre
- Matrix - N1,182/litre
Source: Getty Images
What the new depot prices mean
Depot prices are an important component of the cost structure for petrol marketers, although changes at the depot level do not necessarily translate immediately into similar movements at filling stations.
Retail prices can also be affected by transportation costs, logistics, operating expenses, location and marketers' margins.
The gap between the cheapest and most expensive PMS prices on the latest list is N16 per litre, giving marketers sourcing from lower-priced depots some room to review their pump prices.
Dangote announces free petrol delivery
Earlier, Legit.ng reported that the Dangote Petroleum Refinery has begun delivering petrol directly to fuel marketers in six states at no delivery cost, as part of a broader strategy to strengthen fuel distribution across Nigeria.
The first phase of the programme covers Lagos, Ogun, Rivers, Kaduna, Delta, and the Federal Capital Territory, Abuja.
The refinery said further states will be brought into the scheme as rollout progresses.
Source: Legit.ng
