Fuel Price Drops

Fuel prices have started to drop at some filling stations across Nigeria a few days after Dangote Refinery adjusted its petrol gantry price.

A market check on Sunday showed that stations such as Eterna, NIPCO, AA Rano, and Ranoil have reduced their pump prices in Abuja and nearby areas.

The new price now ranges between N1,280 and N1,300 per litre, down from about N1,340 per litre.

This shows a drop of about N35 to N55 per litre depending on the station.

The change comes shortly after Dangote Refinery reduced its petrol gantry price to N1,175 per litre.

That earlier adjustment followed changes in global crude oil prices, which had moved down before the recent shifts.

Despite the reduction at several outlets, Nigerian National Petroleum Company Limited retail stations have not changed their own pump price.

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Their petrol still sells at about N1,335 per litre, leaving a gap between them and other marketers who have already adjusted their rates.