The President of the Petroleum Products Retail Outlets Owners Association of Nigeria, Billy Gilly-Harry, says recent reductions in fuel prices by the Dangote Refinery have not yet been fully reflected at filling stations because of supply costs, product availability and distribution logistics.
Speaking on a TV interview, Gilly-Harry said retail pricing depends on the cost of existing stock and the resources required to restock supplies. He explained that fuel marketers often need to sell products already purchased before lower prices can take effect at the pumps.
The comments follow an announcement by Dangote Petroleum Refinery & Petrochemicals two weeks ago, reducing its ex-depot price of Premium Motor Spirit to ₦1,250 per litre from ₦1,275, while Automotive Gas Oil was cut to ₦1,700 per litre from ₦1,800. The refinery said the move was aimed at making petroleum products more affordable and supporting economic activity across Nigeria.
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