Some filling stations in Nigeria have begun reducing their petrol pump prices following the N100 per liter gantry price cut announced by Dangote Refinery.
Checks by Nigerian Newssphere on Tuesday showed that Ranoil and Sharon filling stations in Abuja reduced their petrol prices by N20, bringing the pump price down to N1,330 per liter from N1,350.
However, other marketers have moved in the opposite direction. Retail outlets operated by the Nigerian National Petroleum Company Limited (NNPCL), as well as MRS and AA Rano filling stations, increased their pump prices on Tuesday morning.
The stations raised their petrol prices to between N1,260 and an1,330 per liter as of Tuesday evening, up from about N1,090 per liter recorded on Monday. The marketers are yet to reflect the Dangote Refinery gantry price reduction or the recent drop in global crude oil prices.
Meanwhile, the price of Automotive Gas Oil (AGO), commonly known as diesel, remained unchanged N1,780 per liter at Ranoil, AA Rano, and several other filling stations in Abuja.
A manager at an MRS filling station in Abuja, who spoke to Nigerian Newssphere on condition of anonymity, confirmed that petrol was selling N1,260 per liter at the outlet but declined to say whether the price would be reduced in the coming days following the refinery’s price cut.
Reacting to the development, the National President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), Billy Gillis-Harry, said marketers may begin to adjust their prices downward before the end of the week.
“An adjustment may come from now to Friday since Dangote Refinery reduced its gantry price to ₦1,075 per liter today,” he told DAILY POST.
Meanwhile, reports indicate that Dangote Refinery has suspended petrol sales at its gantry since Sunday, a situation that could limit the immediate impact of Tuesday’s price reduction.
DAILY POST recalls that the refinery had earlier increased its gantry petrol price by ₦396 per liter over the past 10 days before announcing the ₦100 reduction to ₦1,075 per liter on Tuesday.
The price adjustment by the 650,000-barrel-per-day refinery followed a decline in global crude oil prices after United States President Donald Trump signaled a possible end to the Iran war.
