Filling stations and marketers have revealed why they still sell petrol at the old rate of N1,025 per litre despite Dangote petrol price slashThey disclosed that they were still selling old stock in the stations before the announcement by DangoteThe Lekki-based mega refinery slashed petrol price from N970 to N899 per litre to ease transportation burdens of Nigerians
Henzodaily.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.
The average price of petrol is yet to reflect the recent price slash announced by the Dangote Refinery.
The mega facility slashed petrol prices from N970 per litre to N899 on Thursday, December 19, 2024, to ease transportation burdens during the Christmas and New Year holidays.
Filling stations explain why prices remain the same after Dangote Price crash
Credit: Bloomber/Contributor
Source: Getty Images
Petrol stations retain old petrol prices
Checks show that most petrol stations across Lagos have continued to sell petrol at the old rate of N1,025 per litre in NNPC retail outlets, while major marketers still sell at N1,070 and independent marketers at N1,100.
Read also
Oil marketers speak on new fuel price at filling stations after Dangote’s decision
Meanwhile, some petrol station attendants revealed they still had old stock in their tanks before Dangote Refinery’s announcement.
According to them, the new price will not be reflected immediately as marketers have yet to lift products from the facility’s latest price.
Petrol stations give reasons for retail oil prices
“We are still selling petrol at the oil price because we have not received the Dangote petrol, which is supposed to cost less, Olalekan Ojo, manager at First Royal filling station at Yaya Abatan Road, Ogba, said.
According to him, selling petrol at the new Dangote rate will lead to a loss for marketers and filling stations.
Stakeholders have hailed the Dangote refinery’s move, saying it will lower prices and promote competition nationwide.
Marketers reduce petrol prices
Henzodaily.ng reported that oil marketers have slashed petrol prices in the Federal Capital Territory (FCT) Abuja.
An investigation showed that some petrol stations reduced prices from N1,100 and N1,150 to N1,080 and N1,090, respectively.
Read also
Marketers reduce petrol prices as Dangote refinery sells at new rates
The move followed an earlier price slash by the Nigerian National Petroleum Company Limited (NNPC) in FCT.
PAY ATTENTION: Сheck out news that is picked exactly for YOU ➡️ find the “Recommended for you” block on the home page and enjoy!
Source: Henzodaily.ng