Despite the reduction of fuel gantry prize by Dangote Petroleum Refinery & Petro-chemicals, its price is still higher than landing cost of imported fuel.

This is an outcome of analysis of data in the current Energy Bulletin of the Competence Centre of the Major Energies Marketers Association of Nigeria (MEMAN) published yesterday.

Dangote Refinery had on Thursday reduced its gantry or ex-depot price for fuel by N75 per litre from N1, 275 per litre to N1, 200 per litre It also reduced its coastal price to N1, 153 per litres. Data from MEMAN bulletin confirmed that as of Thursday, Dangote’s coastal price was N1, 153/l and gantry price was N1, 200/l, while land cost was N1, 147.92/l.

This showed that Dangote’s gantry price was N52.08 higher than the landing cost. The MEMAN data also showed that Dangote’s coastal price for AGO (diesel) was $1,437.00/MT and gantry prize was N1, 750/l while the landing cost was N1, 817.09/l.

The data further showed that Dangote’s coastal prize for ATK (aviation fuel) was $1,976.41/MT and gantry price was N1, 742.38/L while landing cost N2, 011.25/l.