Nigerian filling stations have begun adjusting pump prices downward, cutting the cost of Premium Motor Spirit (PMS) by as much as ₦45 to ₦171 per litre, barely five days after the Dangote Petroleum Refinery announced a reduction in its petrol gantry price.
A survey conducted by DAILY POST correspondents on Wednesday across parts of Abuja revealed that several major marketers, including MRS, AA Rano, and Bovas, have reviewed their pump prices.
Findings showed that MRS reduced its petrol price to ₦739 per litre from ₦910, AA Rano adjusted to ₦840 per litre, while Bovas lowered its price to ₦865 per litre, also from ₦910.
The price adjustments indicate a reduction ranging between ₦45 and ₦171 per litre, offering some relief to motorists amid persistent fuel price volatility.
However, other marketers such as Ranoil, Empire Energy, and several independent stations nationwide were still selling petrol at ₦910 to ₦912 per litre as of the time of filing this report.
Meanwhile, NNPC Limited retail outlets, particularly along the Kubwa Expressway in Abuja, were reportedly out of stock.
Checks further revealed that the ex-depot price of petrol stood at ₦703 per litre for both Dangote Refinery and Pinnacle, while Bovas depot price was around ₦708 per litre.
The development follows recent remarks by Aliko Dangote, President of Dangote Group, who stated that petrol prices in Nigeria should not exceed ₦740 per litre. His comment has since triggered intense competition and a price war within the downstream oil sector.
Recall that the Dangote Refinery last week reduced its petrol gantry price from ₦828 to ₦699 per litre, a move widely seen as a game-changer in Nigeria’s fuel supply landscape
