MRS filling stations supplied by the Dangote Refinery have reduced the pump price of petrol for the second time in less than two weeks, lowering the price in Abuja from ₦1,241 to ₦1,191 per litre.
According to Daily Post, a survey on Wednesday showed the ₦50 reduction follows Dangote Refinery’s decision to cut its ex-depot price to ₦1,125 per litre. Petrol is now selling across Abuja and neighbouring areas for between ₦1,191 and ₦1,300 per litre, depending on the marketer. Other major retailers, including the Nigerian National Petroleum Company Limited (NNPCL), AA Rano, Ranoil, Nigerian Downstream Oil and Gas Company, and Empire Energy, are selling within the ₦1,210 to ₦1,300 range.
The publication noted that MRS had also reduced its petrol price on June 19 after an earlier cut in Dangote Refinery’s gantry price. Industry observers say further reductions are possible, with speculation that pump prices could eventually fall toward ₦1,000 per litre.
The report added that declining global crude oil prices have also supported expectations of lower fuel costs. At the time of publication, West Texas Intermediate crude traded at about $69 per barrel, while Brent crude stood at approximately $72 per barrel.
