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Dangote Refinery’s Price Cut Can’t Reflect Instantly At Stations, PETROAN Says - Politics - Nairaland

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PETROAN Says 500,000 Oil Barrels Meant For Local Refineries Stolen Daily / Port Harcourt Refinery’s Petrol Price Higher Than Dangote’s By ₦75/ltr — PETROAN / Dangote Petrol: IPMAN, PETROAN Hint On Price Reduction (2) (3) (4)

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Dangote Refinery’s Price Cut Can’t Reflect Instantly At Stations, PETROAN Says by Maxymilliano(m): 10:47am On Feb 04
Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has indicated that the anticipated reduction in pump prices for petroleum products following Dangote Refinery’s recent ex-depot price cut may not reflect immediately in pump prices nationwide.

The National President of PETROAN, Billy Gillis-Harry, welcomed the depot price reduction by Dangote, but highlighted the challenges of implementing an immediate change in retail prices.

Recall that Dangote Petroleum Refinery announced a reduction in the ex-depot price of Premium Motor Spirit (PMS), popularly known as petrol from N950 to N890 per litre and the new price took effect on Saturday, February 1, 2025.

In a statement signed by Dangote Group’s Chief Branding and Communications Officer, Anthony Chiejina, the refinery attributed the price adjustment to positive developments in the global energy and gas markets, as well as a recent decline in international crude oil prices.

This reduction, according to the refinery, aligns with its commitment to transparency and fairness, as evidenced by a previous price increase on January 19, which was necessitated by rising crude oil prices at the time.

Dangote Refinery expressed confidence that the new pricing would lead to a significant reduction in the cost of petrol across the country. This, in turn, is expected to lower the prices of goods and services, ease the cost of living, and create positive ripple effects across various sectors of the economy.

“As part of Dangote Refinery’s unwavering commitment to transparency and fairness, this price revision reflects the ongoing fluctuations in global crude oil markets, as highlighted in the refinery’s statement on 19th January, when a modest increase was implemented due to the previously rising international crude oil prices.

“In addition, Dangote Petroleum Refinery calls upon marketers to collaborate in this effort, to ensure that these benefits are passed on to the Nigerian populace.

This collective initiative will contribute to the wider economic recovery plan led by His Excellency, President Bola Ahmed Tinubu, who is dedicated to making Nigeria self-sufficient in refined petroleum products and positioning the country as a leading oil export hub,” it stated.

The PETROAN President highlighted that while the price reduction might not immediately be reflected at the pumps, he urged members of the association to lower their retail prices accordingly when purchasing fuel at the reduced price.

He explained that many filling stations still had stock purchased at the previous higher price, which would make it difficult for them to adjust pump prices immediately.

“Price changes are not usually instantly applicable, but ultimately it will apply. You can’t see it immediately, because we have already bought products, we have already purchased different kinds of products in our retail outlets at the price it was prior to the changes made,” he said.

He, however, reiterated the association’s commitment to collaborating with the Dangote refinery and other stakeholders to ensure fair pricing and sustainability in the downstream petroleum sector.

He advocated that anyone buying at the new price from yesterday (Sunday) should endeavour to reflect that price in their retail outlets to ensure consistency and fairness in the market.

MEANWHILE, PETROAN has said its members are now loading petroleum products from the Port Harcourt and Warri refineries.

In a statement at the weekend, PETROAN’s spokesman, Joseph Obele, said the loading had doused previous doubts that the refineries owned by the Nigerian National Petroleum Company Limited (NNPC) were not fully operational.

“PETROAN members are now loading petroleum products, including Dual-Purpose Kerosene, Automotive Gas Oil, and Premium Motor Spirits,” he said.

“The resurgence of these refineries has sparked intense competition, expected to drive down petroleum prices.

“As Nigerians advocate for lower PMS prices, it is clear that competition is a crucial factor in triggering price reductions.

“The refineries’ revitalisation has brought numerous benefits, including the eradication of adulterated diesel and kerosene from the market.”

Obele said the lack of functional refineries resulted in the widespread circulation of counterfeit petroleum products, putting consumers at serious risk.

https://guardian.ng/news/dangote-refinerys-price-cut-cant-reflect-instantly-at-stations-petroan-says/?fbclid=IwY2xjawIOwDxleHRuA2FlbQIxMQABHVsBTVzN7ZlRFmkVt4RGUXCnfB3W5t55kXM6xkzwZaRouHOSuFnnVZ5hVw_aem_tqnJbhZaxv7rByn-Gn3nRw

1 Like

Re: Dangote Refinery’s Price Cut Can’t Reflect Instantly At Stations, PETROAN Says by Bobloco: 10:52am On Feb 04
sad
Re: Dangote Refinery’s Price Cut Can’t Reflect Instantly At Stations, PETROAN Says by SalamRushdie: 10:54am On Feb 04
But increament is instant

79 Likes 10 Shares

Re: Dangote Refinery’s Price Cut Can’t Reflect Instantly At Stations, PETROAN Says by Banie: 10:54am On Feb 04
People doesn't was this country to move forward

3 Likes

Re: Dangote Refinery’s Price Cut Can’t Reflect Instantly At Stations, PETROAN Says by Maxymilliano(m): 11:00am On Feb 04
But if the price is adjusted upwardly, marketers will create artificial scarcity in order to force the price upward immediately grin

34 Likes 3 Shares

Re: Dangote Refinery’s Price Cut Can’t Reflect Instantly At Stations, PETROAN Says by galserv: 11:10am On Feb 04
SalamRushdie:
But increament increment is instant

That's the warped Nigerian mentality

They will tell you it's for them to be able to restock

Very wrong!

You sell what you buy!!

17 Likes 1 Share

Re: Dangote Refinery’s Price Cut Can’t Reflect Instantly At Stations, PETROAN Says by just2endowed: 12:30pm On Feb 04
but if price increase comes in, u giuys will effect it faster than speed of light

20 Likes 1 Share

Re: Dangote Refinery’s Price Cut Can’t Reflect Instantly At Stations, PETROAN Says by hopedey: 12:32pm On Feb 04
Naija we hail thee.

2 Likes

Re: Dangote Refinery’s Price Cut Can’t Reflect Instantly At Stations, PETROAN Says by Wealthoptulent(m): 12:32pm On Feb 04

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Re: Dangote Refinery’s Price Cut Can’t Reflect Instantly At Stations, PETROAN Says by Dariye(m): 12:32pm On Feb 04
But the reverse is the case if there's an upward review of the price. Instant adjustment at the pump price.

9 Likes 1 Share

Re: Dangote Refinery’s Price Cut Can’t Reflect Instantly At Stations, PETROAN Says by bewisemasses: 12:33pm On Feb 04
60 or so reduction is insignificant. These guys shud stop taking blowing their trumpet. These regime hasfailed. Finito

1 Like

Re: Dangote Refinery’s Price Cut Can’t Reflect Instantly At Stations, PETROAN Says by Brilliancepower: 12:33pm On Feb 04
Very useless organization, but you can increase the petrol price immediately subsidy was withdrawn 🙄 You lack integrity!

15 Likes 1 Share

Re: Dangote Refinery’s Price Cut Can’t Reflect Instantly At Stations, PETROAN Says by Jestin: 12:34pm On Feb 04
Nigeria leaders with cork and bull stories are 5 $ 6.
Re: Dangote Refinery’s Price Cut Can’t Reflect Instantly At Stations, PETROAN Says by MrSundry: 12:35pm On Feb 04
If it were to be an increase, it will reflect immediately ooo

After politicians and civil servants, Nigerians are the next problem facing Nigeria

1 Like

Re: Dangote Refinery’s Price Cut Can’t Reflect Instantly At Stations, PETROAN Says by Macphenson: 12:36pm On Feb 04
Idiotic criminals. Let the prices be reviewed upwards and see all the criminals adjusting their meters immediately

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Re: Dangote Refinery’s Price Cut Can’t Reflect Instantly At Stations, PETROAN Says by Hellisreal70: 12:37pm On Feb 04
Re: Dangote Refinery’s Price Cut Can’t Reflect Instantly At Stations, PETROAN Says by AKWATGOLD1(m): 12:37pm On Feb 04
Rubbish Talk by the PETROANS. But there is an increment on same product, it will reflected immediately before the end of the pronouncement.

3 Likes

Re: Dangote Refinery’s Price Cut Can’t Reflect Instantly At Stations, PETROAN Says by Benmsu: 12:38pm On Feb 04
But if na price increase it would have reflected intanta

2 Likes

Re: Dangote Refinery’s Price Cut Can’t Reflect Instantly At Stations, PETROAN Says by arsenal33: 12:38pm On Feb 04
But an increase in price will be immediate at the pumps

2 Likes

Re: Dangote Refinery’s Price Cut Can’t Reflect Instantly At Stations, PETROAN Says by Bobodee09: 12:39pm On Feb 04
But if is an increase it will be effective immediately.

Bunch of thieves.

2 Likes

Re: Dangote Refinery’s Price Cut Can’t Reflect Instantly At Stations, PETROAN Says by tutudesz: 12:43pm On Feb 04
undecided
Re: Dangote Refinery’s Price Cut Can’t Reflect Instantly At Stations, PETROAN Says by free2ryhme: 12:43pm On Feb 04
Maxymilliano:


https://guardian.ng/news/dangote-refinerys-price-cut-cant-reflect-instantly-at-stations-petroan-says/?fbclid=IwY2xjawIOwDxleHRuA2FlbQIxMQABHVsBTVzN7ZlRFmkVt4RGUXCnfB3W5t55kXM6xkzwZaRouHOSuFnnVZ5hVw_aem_tqnJbhZaxv7rByn-Gn3nRw


Dangote slashed fuel prices, but don’t celebrate yet. PETROAN is already saying it won’t reflect immediately at the pumps—same old story. Last time they cut prices, it didn’t even last three months before shooting back up. This one might not be any different. Let’s wait and see, but Nigerians know the drill—price cuts come and go, but the suffering stays the same.
Re: Dangote Refinery’s Price Cut Can’t Reflect Instantly At Stations, PETROAN Says by Mohisah: 12:46pm On Feb 04
SalamRushdie:
But increament is instant
Greed & wickedness is authentic

1 Like

Re: Dangote Refinery’s Price Cut Can’t Reflect Instantly At Stations, PETROAN Says by nwirinedu(m): 12:50pm On Feb 04
The price reduction will not reflect because the PETROAN members dont want it to reflect. We need an agency to regulate the activities of these dubious marketers.
Re: Dangote Refinery’s Price Cut Can’t Reflect Instantly At Stations, PETROAN Says by oluseyiforjesus(m): 1:00pm On Feb 04
Ok
Re: Dangote Refinery’s Price Cut Can’t Reflect Instantly At Stations, PETROAN Says by marlow1962(m): 1:01pm On Feb 04
See as them they use Nigerians dy do yeye sad
Re: Dangote Refinery’s Price Cut Can’t Reflect Instantly At Stations, PETROAN Says by Rotji(m): 1:03pm On Feb 04
Wicked people, if it's price increase within seconds everywhere is implementing and reflecting. But now that it is price reduction you are saying it will not reflect immediately angry

And we have leaders that are watching and doing nothing

2 Likes

Re: Dangote Refinery’s Price Cut Can’t Reflect Instantly At Stations, PETROAN Says by adecz: 1:04pm On Feb 04



But price increase reflects
immediately, abi??


Bunch of crooks y'all 😠
Re: Dangote Refinery’s Price Cut Can’t Reflect Instantly At Stations, PETROAN Says by jimi4us: 1:18pm On Feb 04
But if he increases price it will reflect in pump price in 2min across Nigeria
Re: Dangote Refinery’s Price Cut Can’t Reflect Instantly At Stations, PETROAN Says by mukthar2000(m): 1:26pm On Feb 04
People still dont understand dagote game, i was suprise why people are happy that Dangote cut fuel price.Niger should wake up pls and stop rejoicing that dangote reduce fuel price, becos this same man stll coming back fully to sale his fuel to Nigerians at #2000 per littet once is succeded with the game the was playing with the maketers.
Re: Dangote Refinery’s Price Cut Can’t Reflect Instantly At Stations, PETROAN Says by Ebinpawo1: 1:32pm On Feb 04
But price increase will reflect immediately at the stations? Wicked people
Re: Dangote Refinery’s Price Cut Can’t Reflect Instantly At Stations, PETROAN Says by maasoap(m): 1:36pm On Feb 04
Lol. But if he announces the price increase, na immediate effect in your filling stations. You won't wait for the batch with increased cost before you start selling at the new higher price

2 Likes

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