Petrol depot prices don drop across Nigeria yesterday, as marketers compete to attract buyers. For Lagos, Dangote Refinery keep im price at N1,216 per litre, wey be di lowest among major suppliers. Oda depots like Pinnacle and MRS also cut dia prices small, to match Dangote.
For Warri, Calabar, and Port Harcourt, depots too reduce rates. Rain Oil cut price by N23 to N1,245 per litre for Warri. For Calabar, Northwest drop by N15 to N1,235. Industry analysts say dis na because of more supply from Dangote and importers, wey make market plenty and competitive.
But despite di depot price drop, many small businesses for Lagos still dey struggle. Di ongoing Iran war don make fuel price nearly double for retail. One printer, Oluwatosin Awodunmila, wey get shop for Somolu, talk say diesel price jump from N800 to N1,400 per litre. Di cost of generator dey eat dia profit, so dem dey wait for electricity wey hardly come.
Awodunmila and her husband don change delivery time from one day to three or five days, because dem no fit use generator always. Customers dey complain about slow work, but di business no fit raise prices or e go lose customers. Her biggest wish na 24-hour light and di war for Iran to end, so fuel price go come down.
Meanwhile, diesel price also drop for Lagos depots, but retail price no reflect am yet. Matrix cut diesel by N55 to N1,645 per litre. But for street, small business still dey pay high amount to run generator. Di gap between depot price and pump price dey wide because of transport and other costs.
For Lagos, oda suppliers like Emadeb cut by N7 to N1,218, while Aiteo, Nipco, Ascon, Shema, and T-Time keep prices between N1,218 and N1,220. Dis show say competition dey hot for Lagos market. For Warri, Bulk Strategic, Liquid Bulk, Masters, Matrix, and Sigmund all reduce to around N1,245. TSL drop by N6 to N1,244.
For Calabar, Hong Petroleum reduce by N2 to N1,233, wey be cheapest for dat area. For Port Harcourt, Matrix and Optima cut by N3 to N1,243. Rain Oil also drop by N23 to N1,245 for PH. Di price gap between Lagos and oda markets dey close small-small, from N1,216 to N1,245, wey mean convergence.
But for businesses like Awodunmila’s printing shop, di benefit of depot price drop no reach dem yet. Di retail price of petrol and diesel wey dem buy for filling station still high because of transport and profit margins. Plus, di war for Iran don disrupt global supply, wey make import cost high. Many small business owners dey pray for peace and better power supply.
Di situation show how global events fit affect local economy. As Iran war continue, fuel price may no come down fast for pump, even if depot price drop. Na real wahala for small business wey dey rely on generator.
