Revealed: Why fuel prices crashed at depots nationwide

• Depot owners person lowered petrol prices again owed to the falling crude lipid prices successful the planetary market
• The caller terms changes person been reflected crossed large depots nationwide, with petrol present selling astatine the aforesaid complaint arsenic diesel
• Experts person said that isolated from crude lipid price, different origin driving prices is organisation and competitory trade

Legit.ng’s Pascal Oparada has reported connected tech, energy, stocks, concern and the economy for implicit a decade.

The planetary terms of crude lipid crashed again, starring substance importers to driblet costs crossed large depots successful Nigeria.

The determination reflects an ongoing displacement successful home proviso dynamics, arsenic improved organisation and competitory commercialized present find little pricing, contempt the planetary lipid marketplace downturn.

Dangote and different large depots driblet substance prices further Credit: Fela Sanu
Source: Getty Images

Petrol and diesel prices change

Recent reports from depot owners corroborate that petrol and diesel prices are present selling astatine reduced rates, signalling alleviation for filling stations and consumers.

According to information from Petroleumprice.ng, substance prices dropped crossed cardinal depots.

The study showed that MRS depot successful Tincan present sells petrol astatine N834 from N838 per litre, Dangote sells astatine N835 from N837, Eterna Oil petrol prices merchantability for N835 from N837, and NIPCO has crashed its prices from N850 to N840 per litre.

The figures bespeak a driblet successful prices compared to  May 7, 2025, erstwhile NIPCO sold its petrol astatine N842 and Dangote astatine N834 per litre.

Similarly, diesel prices besides experienced a decline, with Menj selling its diesel astatine N930 from N935, Mao reduced its prices from N935 to N930, Ibeto crashed its prices from N937 to N940, Integrated reduced its prices from N937 to N940, and Dangote sells astatine N948 from N950 per litre.

Crude prices driblet again

In examination to earlier pricing connected May 7, 2025, the rates amusement short-term reductions contempt a flimsy depot-specific change.

The petrol terms driblet to a diesel level shows improved proviso concatenation consistency, experts say.

Despite the Brent crude drop, substance prices successful Nigeria are inactive driven by interior logistics and organisation challenges.

Analysts accidental unchangeable depot supplies and effectual coordination among marketers volition pb to a section terms drop.

Dangote’s reduced accumulation leads to monolithic imports

According to them, the substance terms driblet successful depots is an accidental for retailers to stabilise pump prices, arsenic end-users could payment from marginally little costs successful the coming days.

Dangote Refinery reduces output

A erstwhile study by Legit.ng disclosed that reduced petroleum merchandise accumulation from the Dangote Refinery owed to attraction caused a rebound successful imports arsenic the marketers resorted to European facilities to conscionable determination demands.

A study by S&P Global Commodities disclosed that petrol imports to Nigeria and Togo roseate from 200,000 barrels regular successful January to implicit 300,000 barrels per time successful March, and 250,000 barrels successful April, astir the nationalist regular depletion needs.

Legit.ng earlier reported that the elephantine refinery had denied shutting down its petrol-process portion for maintenance.

According to the S&P study connected Wednesday, May 14, 2025, the Lekki-based refinery is resuming its main petrol unit, and the residue fluid catalytic cracker (RFCC) and is considering a 2nd turnaround.

Crude lipid prices fall, depot owners driblet costs nationwide. Credit: Bloomberg/Contributor
Source: Getty Images

The institution had disclosed that it is acceptable to summation its polypropylene accumulation for section and planetary markets.

Dangote Refinery crashes petrol prices, ends rebate

Legit.ng earlier reported that Dangote Refinery has crashed petrol price to N825 per litre from N835 amid the ongoing terms warfare successful the sector.

The determination has intensified contention with backstage depot owners, who accused the refinery of plotting to monopolise the downstream assemblage successful Nigeria.

The Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) earlier raised an alarm implicit what it described arsenic an emerging marketplace power successful the downstream petroleum industry.

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Source: Legit.ng