Petrol prices have begun to tumble across Nigeria, with several filling stations slashing pump rates just days after Dangote Refinery announced a reduction in its gantry price for Premium Motor Spirit (PMS).
A survey by Nigerian Newssphere in Abuja on Wednesday showed that major marketers, including MRS, AA Rano, and Bovas, have adjusted their prices downward. MRS now sells petrol at N739 per liter, down from N910, while AA Rano reduced its price to N840 per liter from N910. Bovas also cut its pump price to N865 per liter from the previous N910.
Overall, the reductions represent a price drop of between N45 and N171 per liter across the affected outlets.
However, not all marketers have followed suit. Filling stations operated by Ranoil, Empire Energy, and several others were still selling petrol at between N910 and N912 per liter as of Wednesday.
Meanwhile, Nigerian National Petroleum Company Limited (NNPCL) retail outlets, including those along the Kubwa Expressway in Abuja, were out of stock at the time of filing this report.
Checks further revealed that the current ex-depot prices stood at N703 per liter for Dangote Refinery and Pinnacle, while Bovas was selling at N708 per liter.
The latest price adjustments come days after Aliko Dangote, president of Dangote Refinery, stated that petrol should not sell for more than N740 per liter in Nigeria—a remark that has since sparked intense competition in the downstream oil sector.
Recall that Dangote Refinery last week slashed its gantry price for petrol from N828 to N699 per liter, triggering the ongoing price war among fuel marketers nationwide.
