Some filling stations across Nigeria have begun reducing the pump price of Premium Motor Spirit (PMS), following the recent decision by the Dangote Refinery to lower its gantry price of petrol by N25 per litre.
A market survey conducted by DAILY POST in Abuja showed that several independent marketers have adjusted their retail prices downward. Sunbeth Energy reduced its petrol price to N1,345 per litre from N1,450, while Emedab lowered its rate to N1,360 per litre from N1,365.
However, prices remained unchanged at several major retail outlets in the Federal Capital Territory. Stations operated by the Nigerian National Petroleum Company Limited (NNPCL), Ranoil, AA Rano, NIPCO and MRS continued to sell petrol at between N1,350 and N1,370 per litre as of the time of filing this report.
The latest reduction in pump prices follows Dangote Refinery’s announcement over the weekend of a N25-per-litre cut in its petrol loading price.
Meanwhile, the retail price of Automotive Gas Oil (diesel) has remained largely stable, selling at about N1,900 per litre and above N2,000 per litre at most filling stations.
Speaking on the development, the President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Abubakar Maigandi, said more marketers are expected to reduce their fuel prices from Tuesday as they begin receiving fresh supplies from the Dangote Refinery.
According to him, petrol and diesel prices could decline by between N10 and N15 per litre, depending on location and operational costs.
“As soon as our members receive new stock from Dangote Refinery, fuel and diesel prices would go down in line with the refinery’s latest adjustment,” Maigandi said.
