Drivers in Nigeria can expect a decrease in the cost of petrol and diesel in the coming days. This shift follows a move by the Dangote Refinery to lower its gantry prices, cutting petrol by N50 and diesel by N80 per litre. Consequently, petrol will be priced at N1,165 per litre, while diesel will be sold at N1,570 per litre.
Abubakar Maigandi, President of the Independent Petroleum Marketers Association of Nigeria, indicated that these adjustments will reach consumers by the end of the week or early next week. Once stations begin collecting supplies under the updated pricing structure, retail costs are expected to fall accordingly.
Reports from local filling stations, such as an MRS location in Abuja, suggest petrol may drop from N1,265 to N1,215 per litre. Currently, prices in Abuja fluctuate between N1,265 and N1,310 for petrol, and N1,700 to N1,800 for diesel. These changes occur as global crude oil prices, specifically Brent and West Texas Intermediate, have dipped to $79 and $74 per barrel due to potential geopolitical developments involving Iran and the United States.
