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Petrol still ₦865/L despite Dangote’s free delivery

Dangote Refinery loses N32.5bn after petrol price cut

Despite receiving petrol from the Dangote Refinery at ₦820 per litre without incurring logistics costs, its marketing partners have yet to reduce pump prices at their filling stations.

Findings on Sunday showed that major partners such as Heyden, AP, MRS, and others continued to sell petrol at ₦865 per litre, according to The Punch.

The price adjustment was expected to take effect immediately in selected states, with a nationwide rollout planned as more CNG trucks were deployed.

However, nearly three weeks later, the expected relief has yet to materialise, as most filling stations continue to sell at previous rates.

It was reported that several Dangote CNG trucks were sighted along the Lagos–Ibadan Expressway confirming the start of the direct, logistics-free fuel distribution scheme.

Some marketers explained that they had not reduced prices because they were still selling old stock purchased at higher rates, adding that pump prices would be reviewed once new supplies reached their tanks.

Only a few MRS outlets in Lagos adjusted prices to ₦841 per litre, leading to long queues at the Alapere station as motorists rushed to buy cheaper fuel, while nearby stations maintained prices at ₦865.

In contrast, at the MRS station in Olowotedo, along the Mowe–Ibafo axis in Ogun State, petrol sold for as high as ₦875 per litre. Heyden retailed at ₦863, while Ardova and other outlets kept prices between ₦865 and ₦870 per litre.

However, a source at the Dangote Refinery told The PUNCH that many marketers had already received new supplies and, therefore, had no justification for maintaining pump prices above ₦841 or ₦851 per litre, depending on their location.

“It’s unfair to keep selling at old rates. They are receiving the product at N820 per litre with free logistics, yet they’re still selling higher, that’s not right,” the source, who requested anonymity, said.

The source further explained that the refinery had no authority to enforce pump prices at marketers’ filling stations.

“We can’t compel them as before. It’s purely on recommendation, since marketers insist the law does not permit us to fix pump prices, and NMDPRA seems to agree.

“Those who submitted their station lists are already getting supplies. We would have covered more ground if not for the PENGASSAN issue, but by this new week, we expect wider coverage. Still, marketers should understand that Nigerians are watching and expecting new prices; that’s why you see queues at the MRS station in Alapere,” the official noted.

Meanwhile, not all stakeholders have welcomed Dangote’s frequent price adjustments. The Depot and Petroleum Products Marketers Association of Nigeria recently criticised the refinery’s pricing approach, arguing that the timing of its reductions often unsettles market stability.

DAPPMAN’s Executive Secretary, Olufemi Adewole, said presenting the price cuts as patriotic gestures overlooked their wider economic consequences.

“Claims that repeated fuel price reductions by the Dangote Refinery are patriotic overlook their timing and market impact. These cuts are often introduced when other importers have active cargoes at sea or in tanks, creating price shocks that distort competition and impose financial strain on market participants — including the refinery’s own domestic customers,” Adewole said.