Dangote Refinery Raises Petrol Gantry Price to N1,185 as Lagos Depot Competition Intensifies
Updated
Updated · msmeafricaonline.com · Aug 21
Dangote Refinery Raises Petrol Gantry Price to N1,185 as Lagos Depot Competition Intensifies
3 articles · Updated · msmeafricaonline.com · Aug 21
Summary
N1,185 per litre became Dangote Refinery’s new petrol gantry price from midnight Aug. 21 after a N20 increase, reversing part of the N50 cut it made on Aug. 6.
Competition in Lagos depots shaped the move: Dangote still undercuts Integrated Oil, African Terminals and Nipco at N1,200, and sits below Pinnacle’s N1,190.
N1,218 per litre is the estimated petrol landing cost, leaving Dangote’s revised ex-depot price N33 below import parity and N30 under its pre-cut N1,215 level.
Retail pump prices have not fully tracked depot moves, with some Lagos stations still selling at N1,240-N1,260 because transport, logistics and dealer margins add to wholesale costs.
The pricing battle underscores Dangote’s growing influence in Nigeria’s downstream market as its 650,000-barrel-per-day refinery expands domestic supply and targets 1.4 million bpd within three years.