Again, Dangote Consortium Marketers Cut Petrol Gantry Price to ₦1,215/Litre

Dangote Refinery’s consortium marketers have reduced their petrol gantry price to ₦1,215 per litre from ₦1,240, representing a cut of ₦25 or 2.02 per cent in a single day, in another adjustment to their domestic petrol pricing.

The latest reduction brings the price offered by the marketers below the previous ₦1,240 per litre level, marking a further adjustment in the downstream market following the refinery’s review of its consortium arrangement.

The development comes as Dangote Refinery restructures its direct petrol distribution network, selecting 25 marketers to participate in its new consortium arrangement, down from the previous 37 companies.

As exclusively reported by Petroleumprice.ng, the new list includes Techno Oil, Pivot, Integrated Energy, Soroman, Nipco, MRS, Ardova, Bovas, Optima, Nepal Energies, Mainland, NNPC, A.A. Rano, Rainoil, Pinnacle, AYM Shafa, Heyden, Eterna and Total, among others.

The refinery’s decision to reduce the number of participating marketers followed concerns over the pricing activities of some members of the previous consortium, according to an industry source who spoke to Petroleumprice.ng.

The consortium restructuring also comes amid changes to the refinery’s petrol pricing mechanism. Dangote Refinery initially adopted an EBOB-based pricing model, linking its selling price to a five-day average of the European gasoline benchmark.

It subsequently introduced fixed gantry pricing before returning petrol sales to the EBOB-based model, while automotive gas oil (AGO), commonly known as diesel, remains under a fixed gantry pricing arrangement.

The latest ₦25 reduction by the consortium marketers adds another development to the changing petrol pricing structure. Its impact on depot prices and retail pump prices will depend on how the adjustment is reflected across the downstream distribution chain.