Nigerian filling stations are expected to reduce petrol prices in the coming days following a downward review of the gantry price by the Dangote Refinery.
The refinery has reduced its gantry petrol price to ₦1,215 per litre, a development expected to trigger a corresponding adjustment across the country’s downstream petroleum sector.
Managers of filling stations operated by the Nigerian National Petroleum Company Limited (NNPCL) and MRS have indicated that pump prices would likely drop following the latest adjustment.
An NNPCL outlet manager in Abuja, who spoke anonymously, said the station was expecting to reduce its petrol price from this week in response to the refinery’s decision.
A manager at an MRS filling station also confirmed the possibility of a price reduction in the coming days.
The President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Abubakar Maigandi, equally confirmed that its members would adjust their pump prices once they begin receiving petrol at the new rate from the Dangote Refinery.
According to him, marketers are expected to commence the reduction as soon as supplies from the refinery arrive this week.
The development comes amid a decline in global 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 currently sells for between ₦1,370 and ₦1,429 per litre at filling stations in Abuja and neighbouring areas.
The anticipated price adjustment could provide some relief for motorists and other consumers grappling with the high cost of transportation and living.
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