Filling stations, including that of the Nigerian National Petroleum Company Limited (NNPCL) have reduced the retail price of premium motor spirit popularly known as petrol......Read The Full Article>>.....Read The Full Article>>
Nigerians have taken to social media to reveal the changes, although checks by Legit.ng showed that most fuel stations are still selling above N1,000 per litre.
At Ardova filling stations in Ikotun, a fuel attendant told Legit.ng that the pump price for fuel has been reduced from N1,050 to N1,020.
An attendant who gave her name as Bimpe said:
“Yes, this morning, our manager adjusted the pump price. We are currently selling at N1,020 per litre to our customers.”
A commercial driver, Chinedu, who confirmed the price drop, said:
“What I observed is that the prices vary. The Ardova filling station at Ikotun Roundabout is selling at N1,040, but just a few minutes’ drive ahead, another Ardova filling station is selling at N1,020.
While I am happy about the changes, I hope the prices will be reduced further.”
At the Matrix filling station, another attendant confirmed a price reduction to N1,025 from the previous price of N1,070.
MRS filling stations are selling fuel at N935, while the NNPC Limited station visited just before Egbeda had a pump price set at N1,015 and above in Lagos.
Another random check conducted yesterday in Lagos shows Mobil, TotalEnergies among others, sell for N1015, and N1060 respectively.
Fuel price drops in Abuja
Punch reports that petrol has dropped to N965 per litre in the Federal Capital Territory from the previous price of N1,060.
At its mega station located along Wuse Zone 4 and Olusegun Obasanjo Way, Central Area, the price of the commodity was sold at N965 per litre.
Why is fuel price dropping?
Legit.ng had earlier reported that NNPC Limited lowered pump prices from N1,020 per litre to N899 in Lagos, N970 in Warri, Delta State, N970 in Port Harcourt, and N970 per litre in Calabar.
This was revealed by Billy Gillis-Harry, the National President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN).
Similarly, Dangote Refinery announced a reduction in the ex-depot price of petrol from N970 to N899.50 at its refinery loading gantry and provided generous credit terms to marketers.
To ensure the impact is felt, the refinery also partnered with MRS to sell petrol at N935 per litre through its retail outlets nationwide.
IPMAN assures of lower fuel price
In a related development, the Independent Petroleum Marketers Association of Nigeria (IPMAN), says the price of petrol will drop to N935 per litre by today(Monday).
He said this in view of reaching a new agreement with Dangote Refinery.
IPMAN members are said to control over 30,000 filling stations in Nigeria, and a price change is expected to be felt.
