Again, filling stations reduce fuel prices

News Update

Nigerian filling stations and members of the Independent Petroleum Marketers Association of Nigeria, IPMAN, have reduced their premium motor spirit price for the second time this week.

The National President of IPMAN, Abubakar Maigandi, on Friday confirmed to Journalist that its members have dropped the fuel price to between N860 and N870 per litre in Lagos State, while in Abuja it stands between N895 and N900 per litre.

He noted that the latest fuel price reduction by its members is due to Dangote Refinery’s N30 ex-depot fuel price drop.

According to him, filling stations that have yet to implement the new template may still be selling old fuel stock.

“It’s due to Dangote Refinery’s price drop to N820 from N850 per litre. Our members will have effected another reduction after an earlier adjustment. Immediately there was a reduction in ex-depot; we have to reduce.

“In Lagos our members sell at N860 to N870, while in Abuja it is between N895 and N900 per litre. Those filling stations yet to drop the price are still selling old stock.”

MRS, Empire, and Ranoil filling stations dropped fuel prices to between N885 and N945 per litre in Abuja.

Meanwhile, as of Friday, Empire, Ranoil, Mobil, AA Rano, and others have further reduced their petrol prices to between N890 and N920 per litre.

This comes as the Nigerian National Petroleum Company Limited on Thursday dropped its retail price to N865 and N890 per litre in Lagos and Abuja.

Recall that Dangote Refinery on Tuesday slashed its ex-depot fuel price to N820 per litre from N850.