Depot owners have slashed petrol prices below Dangote Refinery as competition intensifies
PMS now sells between N1,175 and N1,178 per litre, while diesel trades around N1,600–N1,601 per litre at major depots.
The price reductions in the market are being driven by weaker global crude oil prices and rising competition
Several depot owners have matched or are selling petrol below the rates offered by Dangote Petroleum Refinery
On Tuesday, June 16, Dangote reduced its ex-gantry petrol price to N1,175 per litre, representing a N75 reduction from N1,250 per litre following recent declines in international crude oil prices.
Depots reduce petrol prices Data obtained from Petroleumprice.ng on Wednesday showed that several depots have responded and have adjusted ex-depot prices downward, undercutting rates sold at Dangote Refinery to stay competitive.
For Premium Motor Spirit (PMS), Dangote traded at N1,178 per litre, while Aiteo reduced its price further to N1,175 per litre.
Rain Oil, A.A. Rano, Bono, Integrated, Ascon and African Terminal were quoted at N1,177 per litre.
A similar trend was recorded in the diesel market. Automotive Gas Oil (AGO) supplied through Dangote channels was priced at N1,601 per litre, while Rain Oil, A.A. Rano, Wosbab, Emadeb, Menj, Sahara, African Terminal and Bono sold at N1,600 per litre.
The latest adjustments reflect increased price competition among depot operators, as marketers compare offers across multiple supply points before making purchasing decisions.
Private depot owners are also reacting to softer global crude oil benchmarks, which have reduced replacement costs for imported petroleum products and increased pressure on pricing strategies.
