Dangote Refinery recently increased its diesel price to N950 per litre in response private depots have slashed their prices to N940 per litre, undercutting Dangote by N10.
Depot owners battle with Dangote refinery for customer
Diesel, petrol prices at depots drop in price war with Dangote refinery
Petrol prices have also seen broad reductions, signaling growing competitiveness in Nigeria’s downstream sector.
Price war: Dangote and depots
For Diesel, depots such as Menj, Wosbab, Chipet, and Mao are selling diesel to marketers below Dangote prices.
It is a little different for petrol as Dangote price remain the most competitive as general market price is between N857 and N890 per litre across depots
Here is a snapshop of new petrol prices at depots and changes
Gulf Treasure: N860 (-N8, -0.92%)
NIPCO Lagos: N860 (-N4, -0.46%)
AIPEC: N860 (-N5, -0.58%)
TSL: N883 (-N1, -0.11%)
MATRIX Warri: N880 (-N1, -0.11%)
Dangote: N860
Pinacle: N860 (-N5, -0.58%)
Mainland & Northwest: N888 (-N2, -0.22%)
Honeywell: N862 (-N1, -0.12%)
Eterna: N863 (-N2, -0.23%)
Aiteo: N858 (-N2, -0.23%)
AA Rano: N861 (-N3, -0.35%)
Rainoil Lagos: N861 (-N4, -0.46%)
Bovas: N860 (-N3, -0.35%)
Zamson: N880 (-N1, -0.11%)
Prudent Oghara & Rainoil Delta: N880 (-N1 to -N3)
Lister: N860 (-N5, -0.58%)
New petrol prices emerge at depots as competition continues
Hopes for lower petrol price as depots reduce prices to compete with Dangote
Why prices is dropping?
Petroleumprice.ng reports that the recent price adjustments are driven by several factors. A 4% dip in global crude oil costs has provided depots with room to lower both diesel and petrol prices.
At the same time, the naira’s recent appreciation has eased the cost of dollar-denominated transactions for traders, enabling competitive price adjustments while protecting profit margins.
Additionally, private depots are strategically undercutting Dangote Refinery to maintain relevance in the sector, with analysts noting that independent operators are accepting slimmer margins to retain market share.
What the future holds
Analysts say the price cuts reflect the flexibility of Nigeria’s deregulated downstream market, where rates respond quickly to global oil trends and domestic competition.
With crude prices softening and the Naira holding firm, diesel and petrol prices could remain stable or decline further in the coming weeks, though year-end industrial demand may trigger new adjustments.
Nigerians rejoice as petrol price drops below Ghana
Earlier, reported that the price of Premium Motor Spirit (PMS), commonly known as petrol, paid by Nigerians is significantly less compared to many of their West African counterparts.
According to a new report from the Major Energies Marketers Association of Nigeria (MEMAN), the average price of petrol in Nigeria.
Nigerians are currently enjoying some of the cheapest petrol in West Africa.
