Filling Stations Slash Petrol Pump Prices After Dangote Refinery Cuts Gantry Rate

Several filling stations have reduced their petrol pump prices following the latest reduction in petrol gantry price by Dangote Petroleum Refinery.

The refinery recently lowered its ex depot price for Premium Motor Spirit, PMS, to ₦1,250 per litre from ₦1,275 per litre, prompting fresh price adjustments across parts of the retail market.

A market survey by Petroleumprice.ng on Sunday showed that petrol prices in the Igando area of Lagos ranged between ₦1,272 and ₦1,295 per litre, as marketers adopted varying pricing positions after the refinery’s latest review.

Toluwalase Petroleum sold petrol at ₦1,272 per litre, the lowest among the stations surveyed. MRS Oil Nigeria Plc dispensed petrol at ₦1,279 per litre, while Ardova Plc sold at ₦1,280 per litre.

NNPC Retail Limited maintained a pump price of ₦1,295 per litre in both Lagos and Abeokuta.

The latest retail prices suggest that some marketers have started reflecting the impact of the refinery’s revised ex depot rate, although price differences remain across outlets.

Industry observers say retail pricing is still influenced by supply costs, transportation expenses, inventory positions and individual marketing strategies, leading to varying pump prices even within the same area.

With the new Dangote Refinery gantry price now in effect, market watchers expect more filling stations to review their pump prices in the coming days.