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6 days ago
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- Dangote Petroleum Refinery has decided to trim its ex-depot petrol prices for marketers by N40 per litre
- The determination follows the determination by backstage depots to trim their prices to pull much customers to their facilities
- The terms accommodation by Dangote refinery is expected to pb to changes successful pump prices astatine filling stations
Legit.ng writer Dave Ibemere has implicit a decennary of concern journalism acquisition with in-depth cognition of the Nigerian economy, stocks, and wide marketplace trends.
The Dangote Petroleum Refinery has chopped the ex-depot terms of Premium Motor Spirit (PMS), besides known arsenic petrol to N840 per litre.
The caller complaint represents a N40 simplification from the N880 announced 2 weeks ago.
Source: Getty Images
Anthony Chiejina, Chief Corporate Communications Officer of the Dangote Group, confirmed the caller price, stating that it has been successful effect since June 30, Punch reports.
Chiejina said:
“PMS terms has been reduced from N880 to N840 per litre effectual 30th June."The ex-depot terms is the outgo astatine which substance is sold to marketers earlier it reaches filling stations.
Dangote rival depots' terms movement
Dangote terms accommodation comes arsenic several backstage depot operators crossed Lagos and different regions besides slashed their prices successful a bid to pull much marketers and summation marketplace share.
PetroleumPrice.ng reports that betwixt June 23 and 27, large backstage depots successful Lagos, including Aiteo, Nipco, and AIPEC, person chopped their ex-depot rates for petrol to N870 and N874 per litre.
The Dangote Refinery, presently the lone installation producing petrol successful Nigeria, began commercialized substance income earlier this twelvemonth and has since emerged arsenic a cardinal subordinate successful the home substance proviso chain.
Industry analysts accidental the terms cuts whitethorn effect successful further downward adjustments successful pump prices astatine filling stations nationwide.
This volition perchance supply immoderate alleviation to motorists facing precocious substance costs.
Source: Getty Images
10 lowest petrol prices offered by depots arsenic of Tuesday greeting
Here is an penetration into the cheapest depots for marketers to bargain petrol, with Dangote starring with the lowest price.
- Dangote: N840
- Aiteo: N860
- Integrated: N860
- Aipec: N860
- Menj: N860
- Mao: N860
- First Royal: N860
- Pinnacle: N863
- Wosbab: N865
- Matrix Lagos: N865
More terms contention successful the market
The terms contention 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 N1,010 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.
Dangote refinery escaped substance distribution
Earlier, Legit.ng reported that the Dangote Group has acceptable the day to commence the nationwide substance distribution to end-users
The institution besides confirmed that it is investing billions of naira successful acquiring CNG-powered trucks to conscionable the organisation needs
Some of the benefits listed by the refinery see reducing inflation, cutting accumulation costs, creating implicit 15,000 jobs, and curbing cross-border substance smuggling.
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Source: Legit.ng
