Industry Petrol Price Drops at Depots Below Dangote Refinery's Rate
Depot owners have reduced petrol prices below the rates offered by Dangote Petroleum Refinery as competition intensifies in the Nigerian fuel market. Premium Motor Spirit (PMS) now sells between N1,175 and N1,178 per litre at major depots, while diesel trades around N1,600 to N1,601 per litre. The price reductions are driven by weaker global crude oil prices and increasing competition among depot operators.
Depots Reduce Petrol Prices
On Tuesday, June 16, Dangote reduced its ex-gantry petrol price to N1,175 per litre, a N75 reduction from N1,250 per litre, following recent declines in international crude oil prices. Data obtained from Petroleumprice.ng on Wednesday showed that several depots have responded by adjusting ex-depot prices downward, undercutting Dangote's rates to stay competitive.
For PMS, Dangote traded at N1,178 per litre, while Aiteo reduced its price 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, where 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.
Crude Oil Price Drops
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. Brent crude has recently declined from earlier highs, easing concerns around supply constraints and contributing to lower landing cost expectations in key markets.
Despite the presence of the Dangote Petroleum Refinery, fuel pricing in Nigeria remains closely tied to international crude movements, which continue to influence ex-depot and retail market dynamics. Industry sources said buyers are no longer dependent on single supply channels, creating stronger competition for volumes among depot operators.
Latest Depot Petrol Prices
Here is how much filling station owners are buying from Dangote and other depots:
- Aiteo: N1,175
- A. A Rano: N1,177
- African Terminal: N1,177
- Ascon: N1,177
- Bono: N1,177
- Integrated: N1,177
- Rain Oil: N1,177
- Aipec: N1,178
- Ardova: N1,178
- Dangote: N1,178
- Pinnacle: N1,179
- Nepal: N1,197
- A.Y.M Shafa: N1,200
- Matrix: N1,200
- Prudent: N1,200
- Rain Oil: N1,200
- Northwest: N1,200
- Mainland: N1,200
- Matrix: N1,205
- Sigmund: N1,205
Filling Stations Announce Cheaper Petrol Prices
Earlier, Legit.ng reported that several filling stations across Nigeria have reduced the pump price of PMS as marketers battle to attract customers amid changing market conditions. A market survey showed that major marketers, including TotalEnergies, Rainoil, Emedab, Empire Energy, and AA Rano, adjusted their petrol prices downward to between N1,330 and N1,350 per litre. The latest adjustment marks a drop from previous prices of over N1,360 per litre, offering fresh relief to motorists and businesses struggling with rising transportation and operating costs.
