SGR petrol price cut to N805 per litre sparks fierce competition among marketers along the Lagos-Ibadan Expressway

SGR Filling Station has reduced its pump price of petrol to N805 per litre, intensifying competition among fuel marketers along the Lagos-Ibadan Expressway.

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The SGR petrol price cut from N812 earlier in the week retained the station’s position as the cheapest retailer in the Mowe axis. The adjustment followed a similar reduction by a nearby NIPCO outlet at Lotto, which lowered its rate from N828 to N812 per litre.

As of Friday, several stations were seen adjusting their prices to remain competitive. Along Ibafo, Alade Filling Station dispensed petrol at N820 per litre, while Habeeb Filling Station maintained N819 per litre.

SAO stations in Mowe and Lotto sold PMS at N825 per litre, and Akiavic AP and other outlets across the corridor revised their rates to attract motorists.

The Dangote-partnered MRS filling station at Olowotedo reduced its pump price to N825 per litre from N839 as motorists shifted to outlets offering lower prices.

However, another MRS outlet near the Redeemed Christian Church of God camp continued to sell at N839 per litre, even as a neighbouring AP station dropped its price to N834.

Outlets operated by the Nigerian National Petroleum Company Limited in Lagos and Ogun dispensed petrol at between N837 and N840 per litre, depending on location and prevailing competition.

The growing price war comes days after the Dangote Petroleum Refinery reduced its gantry price by N25 per litre, from N799 to N774. In a notice issued by its Group Commercial Operations Department, the refinery said the new rate took immediate effect.

Despite the reduction in ex-depot price, MRS and other partners have yet to reflect the cut at the pump.

Many MRS stations continued to sell at N839 per litre, maintaining the same margin as when the ex-depot rate stood at N799.

Pump prices were previously adjusted immediately when ex-depot costs rose.

In a comparison, Dangote said the adjustment strengthened the competitiveness of locally refined products, noting that the landing price of imported PMS from Lome stood at about N793 per litre, compared with its N774 ex-depot rate.

However, the Major Energies Marketers Association of Nigeria put the average landing cost of imported petrol at N722.08 per litre, approximately N52 lower than Dangote’s ex-depot price.

Meanwhile, Dangote Refinery announced it had reached its full nameplate capacity of 650,000 barrels per day following restoration and optimisation of its crude distillation unit and motor spirit production block.

The company described the milestone as a critical phase in the ramp-up of Africa’s largest oil refining facility and said it had commenced a 72-hour intensive performance test run with its licensor, UOP, to validate operational stability and compliance with global standards.

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Managing Director and Chief Executive Officer of Dangote Petroleum Refinery, David Bird, said the seamless integration of the units underscored the refinery’s engineering strength and operational resilience.