Nigerian Depot Owners Reduce Fuel Prices Lower Than Dangote Petrol

On Wednesday, Nigerian petroleum depot owners cut their ex-depot petrol price per litre to a level below that of fuel sold at Dangote Refinery’s gantry.

Checks by Daily Post showed that AA Rano, Sahara, Soroman, Bovas, and Alkanes have all dropped their ex-depot petrol price to N1,270 per liter from between N1,285 and N1,290 per liter.

The latest ex-depot depot’s petrol price is N5 lower than Dangote Refinery’s gantry, which stood at N1,275.

The drop comes as global crude oil prices, such as Brent and West Texas Intermediate, fell to below $100 per barrel on Tuesday on the back of the president of the United States’ peace proposal with Iran.

With the falling crude oil prices, Dangote Refinery is under pressure to slash its gantry below N1,275 per liter.

Meanwhile, retail petrol prices stood at N1,361 and N1,380 per liter in Abuja as of the time of filing this report.

Price adjustments in gantry or ex-depot petrol directly impact retail prices.