New Petrol Prices Emerge at Depots As Marketers Begin Talks to Stop Tanker Drivers’ Strike

• The price of petrol has changed at private depots across the country, including the Dangote Petroleum Refinery
• New data shows the average price of petrol has increased from N820 per litre to above N850, depending on the company and location
• Talks are ongoing between key petroleum unions to avert the strike threatened by the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG)

Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

New ex-depot petrol prices have emerged at private depots across Nigeria, including Dangote Petroleum Refinery.

The development comes amid ongoing talks by unions to avert a threatened strike by tanker drivers.

Depots adjust petrol prices

Data obtained on Monday showed Dangote refinery has increased its petrol price from N820 per litre to N840 per litre.

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The price change was also observed at Wosbab, Heyden and Ardova, each posting depot prices of N850 per litre.

Petroleumprice.ng data showed that the Integrated Oil and Sahara ex-depot price at N830 is the cheapest on Monday, September 8.

Other depots like MRS Tincan recorded N823, Pinnacle N842, and Dangote Petroleum Refinery N840. First Royal sold at N846, while A.A. Rano matched the top price of N850.

The new figures suggest an upward shift from an average of N820 per litre most depots were selling a few days ago.

Unions in talks amid plans to go on strike

The upward trend comes amid fears of fuel scarcity following threats by the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) and other unions to go on strike from Tuesday, September 9, over concerns of alleged monopolistic practices by Dangote Refinery.

NUPENG accused the company of barring new drivers for imported compressed natural gas (CNG) trucks from joining unions, a move it described as a step towards “modern slavery” in the sector.

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The strike action, it said, was not a full work stoppage but a signal that unresolved disputes could escalate and trigger wider disruptions in fuel supply.

The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) confirmed on Monday that talks are going on to stop the strike.

PETROAN also cautioned that Dangote’s growing involvement in refining, storage, logistics and retail could marginalise existing operators.

Billy Gillis-Harry, PETROAN’s national president, said on Monday that government and industry regulators were actively mediating to avoid a shutdown, Punch reports.

“We want the Dangote Refinery to succeed, but the roles of all players must be clearly defined to protect efficiency and fairness.”

Labour Minister Muhammad Maigari Dingyadi has also urged unions to shelve the strike, calling on the Nigeria Labour Congress (NLC) to withdraw its “red alert” notice that mobilised affiliates for possible action.

Dingyadi said in a statement:

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Fuel scarcity looms in Nigeria as PETROAN plans strike over alleged Dangote monopoly

“Our intervention is aimed at preserving stability in the critical petroleum sector,.”

NNPC petrol drops to N855

Earlier, Legit.ng reported that some retail outlets of the Nigerian National Petroleum Company Limited (NNPC) slashed their petrol price to N855.

The change is not widespread, but the stations selling at lower prices hope to attract customers amid competition.

A breakdown of NNPC petrol prices by state has been provided.

Source: Legit.ng