₦airaland Forum

The damgote recent reduction is still audio. As usual.

Even it truly stated, it will be increase again and again.

Very AUDIO!

Still bought Petrol for #895 yesterday.

Plus, people seem to MISUNDERSTAND the reason for the temporary reduction.

Dangote is trying to UNDERCUT the competition who IMPORT low-quality, cheaper fuel into Nigeria.

He's trying to RUN them out of business and make them CLOSE shop or turn to him as their SUPPLIER.

Then, the REAL problem begins.

DANGOTE IS PART OF THE IKOYI MAFIA PROBLEMS THAT IS PLAGUING NIGERIA

The marketers with old stock will attempt to sell off at old price to mitigate their losses before switching to the new price otherwise they will incure huge losses

maiunguwar:
The marketers with old stock will attempt to sell off at old price to mitigate their losses before switching to the new price otherwise they will incure huge losses

at least there should be one or two filling station selling. But as it is none

fineboynl:
at least there should be one or two filling station selling. But as it is none

The price drop from Dangote refinery was effective immediately,95% of current supplies should be old stock, business is about profit not loss making

fineboynl:
The damgote recent reduction is still audio. As usual.

Even it truly stated, it will be increase again and again.

Dangote isn't doing you a favour.

He reduced his depot lifting price to reflect slump in oil prices which he knows will see to imported fuel being cheaper than his.

By the time taxes are added plus other operational cost factored, retailers (depending on proximity to Dangote refinery and Importers Fuel tank farms in both Lagos), average cost per litre across the country will be ranging from 800-900 per litre.

Also, you need to factor existing inventory. Retailers won't automatically switch prices to reflect lower pricing as this will see to a loss .

If crude pricing remains low, then in a couple of weeks , you may see a reflection at the fuel station