News Update
Some Nigerian filling stations have reduced their premium motor spirit pump prices amid crude oil price volatility.
Media reports that Ranoil and Sharon filling stations in Abuja and the surrounding areas adjusted petrol pump prices downward to N1,280 per liter, down from N1,300.
This means that petrol retail outlets slashed their fuel price by N20, or 1.54 percent.
Meanwhile, Nigerian National Petroleum Company Limited and MRS filling stations dispense petrol at N1261 per liter, which is N19 cheaper than Ranoil and Sharon.
However, other filling stations such as AA Rano, Empire Energy, and others sell petrol between N1,300 and N1,330.
As of the time of filing this report, Dangote Refinery’s gantry price remains at N1,175 per liter of petrol, while depot owners such as Pinnacle, Parker and Zamson stand between N1,192 and N1,200 per liter.
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Recall that crude oil prices, specifically Brent crude, had risen to $114 per barrel before cooling off to $107 per barrel on Thursday night.
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