Private depot owners have begun selling automotive gas oil (AGO), also known as diesel, below Dangote Petroleum Refinery's revised ex-depot price, less than 24 hours after the refinery reduced the prices of both petrol and diesel.
Dangote Refinery on Wednesday reviewed its gantry prices, cutting petrol to ₦1,165 per litre from ₦1,215 per litre and diesel to ₦1,570 per litre from ₦1,650 per litre, a move that immediately reshaped pricing across the downstream market.
Checks by Petroleumprice.ng show that several Lagos depots subsequently adjusted their diesel prices to ₦1,565 per litre, placing them below Dangote's revised ex-depot price. The depots include Integrated, African Terminal, Duport and Ibachem.
Other marketers aligned their diesel prices with the refinery. Gulf Treasure, Wosbab and TMDK each reduced AGO prices to ₦1,570 per litre, matching Dangote's revised level.
The petrol market also responded quickly, although prices largely remained above Dangote's revised ex-depot rate. NIPCO, AA Rano and Aipec each sold PMS at ₦1,175 per litre, while Integrated and African Terminal quoted ₦1,179 per litre.
The latest adjustments indicate that competition in the downstream market remains intense, with marketers responding rapidly to changes in refinery pricing in an effort to retain customers.
The diesel market recorded the most aggressive response, as some private depots moved beyond matching Dangote's revised price by offering AGO at a lower level, while petrol prices generally remained within a narrow range above the refinery's benchmark.
The price movements highlight the increasingly competitive nature of Nigeria's domestic fuel market, where refiners and depot operators continue to adjust prices in response to changing market conditions and rival pricing strategies.