Again, Dangote Reduces Petrol Price

Fuel Pump

Again, Dangote Reduces Petrol Price

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Dangote Petroleum Refinery on Friday reduced the loading cost of its petrol from ₦825 per litre to ₦815 per litre, further intensifying the pricing war in the downstream sector.

Report has it that marketers are taking advantage of the ₦10 reduction by sourcing petrol directly from the refinery instead of relying on depot owners who may be forced to embark on a downward adjustment of their price.

This Neptune Prime learnt that the landing cost of imported petrol is ₦774.72 per litre.

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The cost, which factors in various expenses, including shipping, import duties, and exchange rates, prompted retail marketers to opt for importation, ditching Dangote Refinery.

The landing cost was speculated to cause a reduction in pump price to ₦800 per liter, which may have prompted the latest reduction by the refinery.

Meanwhile, depots in Lagos are beginning to effect price changes, selling between ₦820 and ₦839 to reflect the new reduction offered by the refinery.

Depots like AA RANO and MENJ are selling at ₦830 per liter while WOSBAB and RAINOIL sell at ₦831. Bovas sells a litre at ₦826, likewise Integrated depot while AITEO changed its price from ₦832 to ₦827.