Petroleum product marketers across Nigeria have begun slashing the pump price of Premium Motor Spirit (PMS), commonly known as petrol, in response to a recent drop in Dangote Refinery’s ex-depot price.
This was confirmed by Abubakar Maigandi, President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), on Wednesday.
According to Maigandi, marketers in Northern Nigeria, including the Federal Capital Territory (Abuja), have reduced petrol prices to between N930 and N940 per litre, down from previous rates of N945 to N975.
In Lagos, IPMAN members are now selling fuel at N890 per litre, compared to N925 earlier in the week. Similarly, petrol is being sold for N950 to N960 in the eastern part of the country.
“Our members have reduced petrol prices on Wednesday following Dangote Refinery’s ex-depot price drop,” Maigandi stated.
CREEBHILLS reports that several outlets, including Empire Energy and Raniol filling stations in Gwarimpa, Abuja, adjusted their pump prices to N955 and N945, respectively, on Wednesday — a reduction from N975 and N960 recorded just two days earlier.
However, prices remained unchanged at MRS Filling Stations and NNPC retail outlets in Abuja as of the time of filing this report.
This development follows Dangote Refinery’s announcement on Monday, slashing its ex-depot price from N880 to N840 per litre, a move that appears to be influencing downstream market prices and potentially bringing relief to Nigerian consumers.
