fuel price

The Digest: Petroleum marketers have indicated that fuel prices may drop across Nigeria as the cost of imported petrol falls below the Dangote Refinery's gantry price. IPMAN President Abubakar Maigandi stated that with current market dynamics, retail prices could be reduced. Data shows...

The Digest: Fuel marketers are warning that the pump price of Premium Motor Spirit (petrol) in Nigeria could approach ₦1,000 per litre if the current surge in global crude oil prices continues. The alert follows Brent crude rising above $70 per barrel, driven by geopolitical tensions in the...

The Digest: Nigerians are facing the prospect of another increase in the price of petrol following a sustained rise in global crude oil prices. Nigeria's Bonny Light crude has risen to $70.30 per barrel, a 10% increase from the previous week, with similar hikes seen in benchmark Brent crude...

The Digest: The Nigerian National Petroleum Company Limited and other major filling stations have raised petrol prices twice within 24 hours, with NNPCL outlets now selling at N875 per litre in Abuja, up from N839 on Wednesday. A survey by Daily Post confirmed the adjustments at stations in...

The Digest: Dangote Petroleum Refinery has announced an increase in the gantry price of Premium Motor Spirit (PMS) from ₦699 to ₦799 per litre. This adjustment marks the end of a temporary festive price support initiative, leading MRS Oil Nigeria Plc retail outlets to now sell petrol at ₦839...

The Digest: Nigerian National Petroleum Company Limited (NNPCL) has implemented another reduction in the price of Premium Motor Spirit (PMS), now selling at N815 per litre at its retail outlets in Abuja, as competition continues to shape pricing in the downstream sector. Key Points: NNPCL...

The Digest: Nigerian fuel depot owners have sharply increased ex-depot petrol prices, citing concerns over an alleged planned maintenance shutdown at the Dangote Refinery, a move that threatens to send a fresh wave of inflationary pressure through the economy. Key Points: Multiple depot...

The Digest: The Nigerian National Petroleum Company Limited (NNPCL) has announced a third reduction in the price of petrol this month, lowering its pump price to N835 per litre in Abuja. According to Daily Post Nigeria, this represents an N80 decrease from the previous price of N915 per litre...

The Digest: Aliko Dangote's renewed accusations against NMDPRA CEO Farouk Ahmed have coincided with a sharp drop in fuel prices, as his refinery cuts rates to undercut importers. Key Points: Aliko Dangote accused NMDPRA CEO Farouk Ahmed of economic sabotage for favoring fuel imports over...

The Digest: The Nigerian National Petroleum Company Limited (NNPCL) and several major retail outlets have implemented a further reduction in the pump price of Premium Motor Spirit (PMS). This marks the latest in a series of adjustments over recent weeks, bringing marginal relief to consumers...

The Digest: Consumers have received a second dose of relief in quick succession. The Nigerian National Petroleum Company Limited (NNPCL) has reduced the pump price of Premium Motor Spirit (PMS) by ₦10, marking its second price cut in less than a week. Key Points: The NNPCL on Thursday...

The Digest: The Nigerian National Petroleum Company Limited has reduced its pump price to ₦930 per litre, following price cuts by Dangote Refinery and major depot owners. This adjustment, echoing the subtle currents of market change, signals a potential new phase in the nation’s fuel pricing...

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...

The Digest: The Dangote Petroleum Refinery has reduced its ex-depot petrol price by N49 to N828 per litre, signaling a significant shift in Nigeria's downstream oil sector. This price reduction coincides with the refinery's ramp-up to a record 1.4 million barrels per day, positioning it to...

The Digest: President Bola Tinubu has approved a 15% import duty on petrol and diesel, a move expected to push the pump price of petrol above N1,000 per litre for most Nigerians. According to the Daily Post, the new duty will add nearly N100 to the current cost of a litre, increasing the...

The Digest: The landing cost of imported petrol has fallen to ₦839.97 per litre, undercutting the Dangote Refinery's price of ₦877 per litre. This development, confirmed by industry associations, signals increased price competition in Nigeria's newly liberalized downstream petroleum sector...

The Digest: A reduction in the price of Premium Motor Spirit (petrol) is expected across Nigeria in the coming days, following the resumption of loading activities at the Dangote Refinery. According to Daily Post, the Independent Petroleum Marketers Association of Nigeria confirmed its members...

The Digest: The retail price of Premium Motor Spirit (PMS) from Dangote Refinery has surged to N950 per litre at major outlets in Abuja, including MRS, Ardova, and Optima stations. This N100 increase comes despite the refinery’s large-scale production capacity and recent government initiatives...

The Digest: As the cost-of-living storm intensifies for many Nigerians, the price of Premium Motor Spirit (petrol) has surged alarmingly close to N1,000 per litre. This new spike, attributed to supply constraints and operational glitches at the Dangote Refinery, has sparked a fresh wave of...

The cost of essential household energy continues to climb as the price of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, has recorded a sharp increase in major Nigerian cities. Market checks in Abuja reveal the price of 1kg of gas has risen to ₦1,500, while a 12.5kg cylinder now...