Following a recent rate reduction by the Dangote Refinery, retail petrol outlets nationwide have started lowering their pump prices. A market analysis performed by DAILY POST on Saturday revealed that stations in and around Abuja have updated their pricing structures.
Outlets such as AA Rano, Ranoil, and the Nigerian Independent Petroleum Company are now retailing petrol at prices ranging from N1,205 to N1,240 per liter, a notable decrease from the previous N1,300 mark. This adjustment follows the Dangote Refinery’s decision on Thursday to cut its gantry price to N1,075 per liter, which was prompted by a decline in global crude oil values to between $68 and $72 per barrel.
Previously, entities including NNPCL and MRS Filling adjusted their Abuja rates to N1,210 and N1,191 per liter, respectively. Despite these repeated downward revisions, fuel prices across the country remain above the N1,000 threshold that was established before the recent escalation of conflict in the Middle East.
