Petrol depot owners in Lagos and Port Harcourt have lowered prices below Dangote Petroleum Refinery’s new ₦1,300-per-litre gantry rate, with Masters depot in Port Harcourt offering the lowest listed price at ₦1,283 per litre on November 3.
Price checks across the two markets showed A.A. Rano listing petrol at ₦1,295 per litre in Lagos, while a separate reviewed listing placed its price at ₦1,293. Nipco also reviewed its Lagos depot price to ₦1,290 per litre.
The reductions came a day after Dangote Refinery announced a shift to fixed naira pricing, setting its petrol gantry rate at ₦1,300 per litre and coastal lifting at ₦1,676,250 per metric tonne, effective from midnight on November 3.
The refinery’s move followed volatility in the European gasoline benchmark, which had influenced its previous pricing approach. The return to fixed prices is intended to provide greater stability in the downstream market and limit disruptions linked to frequent benchmark fluctuations.
The latest depot adjustments place listed prices between ₦5 and ₦17 per litre below Dangote’s gantry rate, highlighting continued competition among suppliers as marketers respond to the refinery’s revised pricing structure.