There are indications that petrol prices may drop across the country following Dangote Refinery’s decision to reduce its gantry price from N1,250 to N1,215 per litre.
The latest adjustment represents a reduction of N35 per litre and could provide some relief to motorists struggling with high fuel costs and rising transportation expenses.
An NNPCL station manager in Abuja said the expected reduction could take effect within the week.
“Our fuel price is expected to drop from this week following Dangote Refinery’s petrol price cut,” the manager said.
The President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Abubakar Maigandi, also confirmed that members of the association are expected to reduce their prices after receiving petrol supplied at the new rate.
Reports quoted filling station managers at Nigerian National Petroleum Company Limited (NNPCL) and MRS outlets as saying that pump prices could decline in the coming days following the refinery’s price cut.
“Our members would cut fuel prices as soon as we receive Dangote Refinery’s petrol from this week,” Maigandi said.
Petrol currently sells for between N1,370 and N1,429 per litre across Abuja and surrounding communities, although prices vary by location and filling station.
The anticipated reduction comes amid a decline in global crude oil prices, which could influence domestic petrol pricing.
If the adjustment is reflected at filling stations nationwide, motorists may benefit from lower fuel costs, potentially easing transportation expenses and the cost of living.
However, the extent of the reduction will depend on how quickly marketers receive supplies at the new price and adjust their pump prices.