Fuel Price.webp
The Digest:

The Nigerian National Petroleum Company Limited has reduced its petrol price at retail outlets, dropping from N1,361 to N1,295 per litre, a cut of N71. The reduction comes three days after Dangote Refinery slashed its ex-gantry price by N85 to N1,200 per litre. However, other major marketers, including MRS (Dangote-backed), Ranoil, Empire Energy, Emedab, and Total, have yet to adjust their prices downward, currently selling between N1,370 and N1,395 per litre.

Key Points:
  • NNPCL retail outlets in Abuja now sell petrol at N1,295 per litre, down from N1,361.
  • The reduction follows Dangote Refinery's N85 cut to N1,200 per litre on March 27.
  • Dangote-backed MRS filling stations still sell at N1,367 per litre.
  • Other major marketers, including Ranoil and Total, have not reduced prices, ranging between N1,370 and N1,395.
  • The price gap between NNPCL and other marketers now stands at about N75 to N100 per litre.
As NNPCL moves to pass on the benefit of Dangote's price cut, consumers may see relief at its stations, but the slower response from other marketers suggests retail prices may not immediately align across the board.

Sources: Daily Post, Nairametrics