Oil marketers have vowed to crash petrol prices below Dangote refinery’s prices with imported fuel
The marketers said that they have signed deals with international suppliers to import the product cheaply into the country at rate of N800 Per Litre
Oil marketers have disclosed that petrol produced by the Dangote Refinery sells for between N1,015 and N1,028 per litre, depending on the quantity. …CONTINUE READING
The marketers disclosed this even as the mega refinery refuted the claims and released petrol prices from the plant
The refinery pegged its prices at N990 and N960 per litre, depending on the mode of transportation.
Based on this, the marketers vowed to import and sell the product below the Dangote refinery and NNPC prices.
According to data from the Major Energies Marketers Association of Nigeria (MEMAN) released on Thursday, October 31, the landing cost of petrol was about N978.01 per litre.
The data stated that the landing cost of diesel was N1,069.97 per litre, while that of aviation fuel was N1,119.67/litre. The landing cost of these products is the unit price of the imported commodities coming to Nigeria’s shores.
However, the Dangote refinery has refuted the landing cost of the products, stating that any imported products sold below its price are substandard.
Punch reports that an anonymous major marketer confirmed that Dangote’s petrol prices were higher than imported PMS. The official reportedly said the $20 billion refinery currently sells to oil marketers purchasing bulk products at N1,015 per litre and others at N1,028.
The marketer disclosed that three cargoes with petroleum products recently berthed at Nigerian ports.
The report said that marketers under the Petroleum Retail Outlet Owners Association of Nigeria (PETROAN) promised to sell imported petrol below Dangote’s prices.
The association said its PMS would also be cheaper than the NNPCL. PETROAN’s publicity secretary, Joseph Obele, reportedly said that Dangote’s price might be higher due to the refinery’s imported crude.
Obele said the association has signed deals with international suppliers to import petrol reasonably, and the product will arrive in Nigeria soon at N800 per litre.
