Marketers Predict N800/Litre as Imported Petrol Costs Decline

The competition in Nigeria’s downstream oil sector intensified as major marketers offered lower prices compared to the N825 per litre gantry loading cost set by Dangote Petroleum Refinery. The drop follows a reduction in the landing cost of imported petrol to N774.72 per litre, signaling a potential decrease in pump prices to around N800 per litre.

Industry experts note that private marketers are favoring imported products over Dangote’s refinery supply due to cost advantages. Some depots, including AA RANO, MRS TINCAN, and RAINOIL, have adjusted their prices to around N830–N832 per litre, undercutting Dangote’s rates.

With importers securing cheaper products, analysts predict the Dangote refinery may be forced to reduce its ex-depot price to remain competitive. The fluctuating prices have led marketers to seek stability in private depots, abandoning refinery purchases.

Meanwhile, the Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) has criticized frequent price reductions, calling for regulations to limit price changes to every six months. PETROAN has also shifted its stance, advocating for fuel importation to prevent monopolization of the market.