Nigerian Fuel Marketers Offer Petrol Below Dangote and NNPC Prices Amid Competition

In Nigeria, certain fuel marketers are offering petrol below the benchmark prices set by Dangote and NNPC. Notably, Aiteo is selling petrol at N797 per liter, Matrix at N798 per liter, and Sheltuplux at N797 per liter, undercutting the industry giants.

This undercutting extends to retail stations, with Toluwalesh Fill Station in Igando selling at N816 per liter, below the N839 pump price set by Dangote. Mobil's station in Isheri is selling petrol at N815 per liter, further emphasizing the competitive pricing landscape.

The price behavior reflects the limited margins for refiner-led pricing in Nigeria's downstream sector, with recent price hikes pushing rates up to N892 per liter in Abuja. Chinedu Ukadik of the Independent Petroleum Marketers Association notes that sustained rises in global crude oil prices will continue to impact petrol pump prices domestically, with Nigeria's fuel prices remaining relatively low compared to neighboring countries.