“Price War”: Marketers Insist on Crashing Dangote’s Petrol Price below N900 Per Litre
- Oil marketers in Nigerian have promised to import petrol to crash the price below the one offered by Dangote Refinery
- PETROAN the price its members want to sell will be cheaper than the ones currently in sale in Nigeria
- The association disputed the claims by the Dangote Refinery that it wants to import substandard products
Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) disclosed on Monday, November 4, 2024 that the petrol its members intend to import will be cheaper than the current one sold in Nigeria.
PETROAN’s national public relations officer, Joseph Obele, said competition in a deregulated environment must exist.
Source: UGC
Oil marketers move to crash petrol prices
He disclosed that the association had registered a business unit to import petrol before December.
He disputed Dangote Refinery’s allegation that the marketers intend to import inferior products at a cheaper price, saying that the claims were surprising.
Vanguard reported that Pinnacle Oil and Gas Limited reacted to the allegations of blending substandard petrol near the Dangote Refinery, adding that it is not involved in blending inferior products.
Also, the association said it was unaware of the price of petrol from the 650,000bpd-capacity refinery until the company issued a press statement.
Dangote refinery accuses marketers
According to Obele, intense or aggressive competition in any market brings the best value for money in exchange for a commodity, saying that consumers get the best value for pricing at the peak of competition.
Legit.ng earlier reported that Dangote Group’s Chief Branding and Communications Officer, Anthony Chiejine, said an international firm hired a depot facility near the Dangote Refinery to blend substandard products, aiming to dump them into the Nigerian market alongside the refinery’s higher-quality product.
The statement said refining growth in Nigeria is at risk due to blending inferior petroleum products.
Oil marketers vow to sell petrol below Dangote’s prices
Legit.ng previously reported that oil marketers disclosed that petrol produced by the Dangote Refinery sells between N1,015 and N1,028 per litre, depending on the quantity.
The marketers disclosed this even as the mega refinery refuted the claims and released petrol prices from the plant.
The refinery pegged its prices at N990 and N960 per litre, depending on the mode of transportation.
Proofread by Kola Muhammed, journalist and copyeditor at Legit.ng
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