The Dangote Refinery has further reduced its petrol loading price, dropping it from N825 to N815 per litre, continuing the trend of price competition within Nigeria’s downstream oil sector.
This marks the refinery’s third price reduction in 2025, following previous adjustments in February. The latest cut has reportedly been welcomed by oil marketers, who are now opting to source petrol directly from the refinery, bypassing private depot owners.
The N10 price reduction is expected to trigger a competitive response from private fuel depots, which may lower their prices to retain market share.
This move comes after the landing cost of imported petrol in Nigeria decreased to N774.72 per litre on Tuesday. Industry analysts suggest that this decline could lead to a reduction in pump prices to approximately N800 per litre.
The landing cost, which includes shipping, import duties, and exchange rate fluctuations, has influenced retail marketers to favour importation over sourcing from the Dangote Refinery. It is speculated that this potential reduction in pump price influenced Dangote refinery’s decision to lower prices.
In response, fuel depots in Lagos have begun adjusting their prices, with selling rates now ranging from N820 to N839 per litre, aligning with the refinery’s revised pricing.
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