Find out mor as 2 fuel vessels arrive Nigerian ports as depots slash price below Dangote’s rate

• Two vessels carrying caller substance cargoes are scheduled to get astatine Calabar and Warri ports, respectively
• The cargoes which are from Dangote Petroleum Refinery are expected to boost proviso crossed South-South Nigeria
• There is presently terms contention betwixt Dangote refinery and backstage depots connected petrol cost

Legit.ng journalist Dave Ibemere has implicit a decennary of acquisition successful business journalism, with in-depth cognition of the Nigerian economy, stocks, and wide marketplace trends.

Two substance vessels, Watson and St Walga, are scheduled to get astatine Nigerian ports successful Calabar and Warri, respectively, carrying shipments of Premium Motor Spirit (PMS) and Automotive Gas Oil (AGO).

The development, confirmed successful Monday’s Daily Tanker Report seen by Legit.ng, signals a important proviso boost for the South-South portion amid rising request and heightened contention among autarkic marketers.

Petrol proviso boost for South South region Photo credit: Bloomberg/contributor
Source: Getty Images

The Watson, loaded with 20,500 metric tonnes of PMS, is expected astatine the Zone 4 depot successful Calabar. The cargo, sourced by a backstage importer, is designated for bulk inland organisation crossed Cross River, Akwa Ibom, and Abia states.

Its accomplishment is expected to easiness proviso pressures successful the Eastern corridor and assistance support retail prices betwixt N870 and N900 per litre of petroleumprice.ng reports.

Meanwhile, St Walga is en way to Warri Port with 16,500 metric tonnes of diesel.

The vessel, which was loaded astatine the Dangote Lekki terminal, is scheduled to discharge astatine the AYM Shafa Jetty successful Warri.

The AGO shipment is expected to enactment concern and logistics operations crossed Delta, Edo, and Kogi states.

Petrol terms drop

The improvement is coming astatine a clip erstwhile private depot owners are pushing hard to pull customers with cheaper products.

Between June 23 and 27, large backstage depots successful Lagos, including Aiteo, Nipco, and AIPEC, person chopped their ex-depot rates for Premium Motor Spirit (PMS) to N870 and N874 per litre.

This is little than the N880 complaint offered by Dangote Petroleum refinery to marketers.

Dangote sells much petrol to autarkic markets contempt depot competition. Photo credit: Bloomberg/contributor
Source: Getty Images

The ex-depot terms is the outgo astatine which substance is sold to marketers earlier it reaches filling stations.

The terms warfare extends beyond petrol.

For Automotive Gas Oil (AGO), commonly known arsenic diesel, large depots specified arsenic African Terminal, Ibachem, Menj, Mao, and Ibeto are maintaining unchangeable prices astatine N1,000 per litre.

Dangote’s AGO remains higher astatine N1,023 per litre, with lone Rainoil offering a terms person astatine N1,003.

In the Liquefied Petroleum Gas (LPG) segment, Dangote has besides mislaid its pricing advantage.

Ardova and different depots are offering LPG astatine N890 per kilogram, the aforesaid complaint arsenic the Dangote refinery.

NNPC increases substance price

Earlier, Legit.ng reported that the Nigerian National Petroleum Company Limited (NNPCL) has accrued its petrol pump terms to N915 per litre successful Lagos connected Sunday, June 22.

This caller terms represents a N45 summation from the erstwhile pump terms of N870 per litre.

Ardova, Mobil, Petrocam, Hyden, Matrix and different filling stations person besides made changes to their pump terms supra N900 per litre.

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Source: Legit.ng