Petrol prices at filling stations operated by the Nigerian National Petroleum Company Limited (NNPCL) and MRS are expected to decline in the coming days following a fresh reduction in the gantry price by Dangote Refinery.
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Dangote Refinery has lowered its petrol gantry price to N1,215 per litre, a move expected to influence prices across Nigeria’s downstream petroleum market.
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Managers at NNPCL and MRS filling stations have confirmed that they are anticipating a reduction in pump prices following the refinery’s latest adjustment.
An NNPCL outlet manager in Abuja, who spoke anonymously, said the station expected to begin selling petrol at a lower price during the week in response to the reduction.
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A manager at an MRS filling station also indicated that pump prices could come down in the coming days.
The President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Abubakar Maigandi, equally confirmed that members of the association would review their prices once they began receiving petrol supplied by Dangote Refinery.
Maigandi said marketers were expected to start reducing their prices from the week as new supplies became available.
The development comes amid a decline in international crude oil prices, with West Texas Intermediate (WTI) and Brent crude reportedly falling by three and four per cent to $99 and $104 per barrel, respectively.
Meanwhile, petrol prices at filling stations in Abuja and neighbouring areas currently range between N1,370 and N1,429 per litre.
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