Nigerian filling stations have started reducing their petrol price to compete with the Nigerian National Petroleum Company Limited, NNPCL, and other fuel outlets nationwide.
Information gathered by DAILY POST on Wednesday revealed that AA Rano, Raniol, Emadab, Empire Energy, Total, Mobil, and NIPCO filling stations in the Federal Capital Territory, Abuja, and surrounding areas have recently lowered their fuel prices.
AA Rano, Ranoil, Mobil, and NIPCO have adjusted their fuel price to N890 per litre, down from N945, matching the price at NNPCL retail outlets in Abuja.
Others, including Empire Energy, Emadab, and Total filling stations in Gwarimpa, Abuja, have reduced their petrol pump prices to between N899 and N910, from N945 and N935, respectively.
Reacting, the National President of the Independent Petroleum Marketers Association of Nigeria, Abubakar Maigandi, said the latest drop in fuel prices was due to a reduction in ex-depot and crude oil prices.
“It is due to a drop in the petrol ex-depot price, which stood between N820 to N845 per litre, and lower crude oil prices,” he told DAILY POST.
NNPCL had earlier reviewed its fuel price downward to N890 in Abuja and N865 per litre in Lagos following Dangote Refinery’s ex-depot price adjustment to N820.
Recall that the crude oil price on Wednesday morning stood at $66.52 and $63 per barrel for Brent and West Texas Intermediate crude futures, according to oilprice.com.
