Fresh ex-depot petrol prices have been announced across private depots in Nigeria, with mixed adjustments by oil marketers amid ongoing volatility in the downstream sector. Data obtained on Monday, May 11 revealed that several depots reviewed their petrol loading prices upward, while others implemented slight reductions.
Depots Adjust Petrol Prices
Depotdata reports that Prudent Energy added N45 to their pump price, now selling at N1,285 per litre, while both AA Rano and Aipec increased prices by a marginal 50 kobo to sell at N1,286 per litre. The depot price of Bova Oil was increased by N14.5 and sells for N1,285 per litre. Mobil Oil Nigeria, which recorded one of the steepest increases among oil marketers, added N75.5 to its depot price of N1,281 per litre.
However, Jenco had the biggest increase, with N499 added, as it now sells at N1,309 per litre. On the other hand, some depots actually dropped prices. Nipco Plc Apapa and Pinnacle Oil & Gas dropped prices by N36, now selling at N1,285 and N1,280 per litre respectively. Masters Energy and Soroman dropped their prices by N15 and N25 respectively, now selling at N1,305 and N1,300 per litre respectively. Rain Oil and Matrix Energy Warri both dropped prices by N10 to sell at N1,290 per litre.
Dangote Refinery had a price drop of 50 kobo, now selling at N1,283 per litre. Sahara Apapa recorded a slight price decrease to N1,294 per litre. Other marketers that recorded marginal drops include Liquid Bulk, Stockgap, Bulk Strategic Terminal, Avidor, Sobaz Oil & Gas, and North West Petroleum.
FG Grants Import License
Legit.ng earlier reported that marketers are preparing to receive no fewer than 164,000 metric tonnes of imported petroleum products across major ports, despite claims that the Dangote Petroleum Refinery can meet most of the country's fuel demand. The incoming cargoes, made up of petrol and diesel, are expected to strengthen supply across the country and provide fresh competition for the refinery owned by Aliko Dangote, especially after recent adjustments in ex-depot fuel prices.
The shipments include 82,000 metric tonnes of Automotive Gas Oil (AGO), also known as diesel, and 81,882 metric tonnes of petrol. Four diesel vessels are billed for the Kirikiri Lighter Terminal (KLT) in Lagos. The vessel HUDSON arrived at KLT Phase 2 on May 8 carrying 25,000 metric tonnes of diesel, while ALINDA berthed at KLT Phase 3A the same day with 10,000 metric tonnes.
