A lower wholesale petrol offer from marketers tied to Nigeria’s Dangote refinery may reach consumers only if the cut passes through distribution, BusinessDay reported, underscoring the gap between loading-point and pump prices.
The offer now stands at N1,215 per liter, down N25 from N1,240, BusinessDay reported Nov. 12. The outlet described the decrease as 2%.
The rate applies at the refinery loading point. Motorists’ prices can also reflect fuel delivery expenses and sellers’ margins, BusinessDay reported, so the effect for consumers depends on how the reduction moves through the supply chain.
BusinessDay put the consortium’s current membership at 25 marketers, compared with 37 previously. Petroleumprice, an energy research firm, linked the membership change to concerns about the pricing practices of some former members, the newspaper reported.
Earlier changes to Dangote’s refinery-gate pricing have played a larger role in Nigeria’s wholesale market, BusinessDay said. The outlet also noted Brent crude was below $100 a barrel and reported that energy-market participants expected downstream pressure to ease.
