₦799 Petrol: Marketers Selling Below Dangote and NNPC Prices

Marketers undercut Dangote’s benchmark

Some independent marketers and private depot operators are selling petrol below the pricing benchmark set by the Dangote Petroleum Refinery, as competition intensifies in Nigeria’s downstream market.

Dangote recently raised its ex gantry price to ₦799 per litre and its retail reference price to about ₦839 per litre at partner outlets. That shift pushed pump prices higher at several major stations. In response, independents are cutting prices to attract buyers and protect market share.

Depot prices now below ₦799

Market checks show some depots are already selling slightly below Dangote’s ex gantry level:

Aiteo: ₦797 per litre
Matrix: ₦798 per litre
Sheltuplux: ₦797 per litre

These prices sit below the refinery benchmark and signal that independent suppliers still have sourcing options that allow them to compete on price.

Cheaper pump prices at independent stations

The undercutting is also showing at retail stations. Toluwaleshe Filling Station in Igando is selling at ₦816 per litre, below the ₦839 seen at some Dangote linked outlets. A Mobil branded station in Isheri is selling around ₦815 per litre.

Why independents are selling cheaper

Industry analysts say this pricing pattern shows refinery led pricing cannot fully control pump rates in a competitive market. Independent marketers rely on smaller margins and faster turnover. 

Many also price based on local demand and supply conditions, not just refinery benchmarks.

NNPC raises prices again

While some independents are cutting prices, NNPC Limited has raised pump prices again.

In Lagos, petrol moved from ₦835 per litre to about ₦892 per litre. In Abuja, NNPC stations are now around ₦875 per litre, up from ₦835.

What drives the next price move

Operators say petrol prices will keep reacting to two factors: global crude oil prices and the naira exchange rate. If crude stays high and the naira remains weak, pump prices will keep rising.

Nigeria still cheaper than many neighbours

Industry comparisons also show Nigeria still pays less for petrol than several West African countries, even after recent price increases.