Petrol truck loading activity has increasingly shifted toward private depots in Lagos as marketers move to take advantage of lower loading prices outside Dangote Petroleum Refinery, according to market checks conducted by Petroleumprice.ng on Friday.
The checks showed that several private depot operators were selling Premium Motor Spirit below Dangote Refinery’s gantry price of N1,275 per litre.
Pricing data obtained across major Lagos depots indicated that Nipco and Aiteo were both selling petrol at N1,272 per litre, while African Terminal, Integrated, Ascon and Bono maintained depot prices at N1,274 per litre.
Dangote Refinery, however, retained its ex-depot petrol price at N1,275 per litre as of Friday.
Industry marketers said the lower pricing by rival depots has started attracting more truck traffic away from the refinery, particularly among independent marketers seeking to reduce loading costs amid tightening margins in the downstream sector.
According to marketers familiar with loading activities in Lagos, the marginal price differences have become increasingly important due to rising transportation, financing and distribution costs across the petroleum supply chain.
Industry sources attributed the latest pricing adjustments by private depots to the recent decline in international crude oil prices, which has continued to influence pricing expectations within the domestic downstream market.
Operators noted that the development could increase pressure on Dangote Refinery to review its petrol gantry price if competing depots continue to sustain lower ex-depot rates.
Stakeholders added that the latest pricing movements reflect intensifying competition among private depot owners and domestic refiners as market players compete for truck volumes and market share within Nigeria’s deregulated downstream petroleum industry.