Fuel Pump.webp
The Digest:

Filling stations in Abuja have reduced the pump price of Premium Motor Spirit (PMS) to between ₦940 and ₦949 per litre, following the federal government's suspension of a planned 15% import duty on petrol and diesel.

Key Points:
  • Filling stations in Abuja have reduced fuel prices by ₦6 to ₦15 per litre.
  • Ranoil and Empire stations now sell at ₦940 and ₦949 per litre respectively.
  • The reduction follows the government's suspension of a 15% import duty.
  • IPMAN's spokesperson confirmed the drop and expects further reductions.
  • The suspended tariff was intended to give Dangote Refinery a competitive edge.
  • NNPC had previously reduced its pump price to ₦945 per litre in Abuja.
  • The ex-depot price from Dangote and other depots remains around ₦856 per litre.
This fleeting price drop highlights the fragile and interconnected nature of fuel costs, where a single policy change can momentarily ease the burden on a populace navigating an economic storm

Sources: Daily Post