Petrol pump prices have started dropping across parts of Nigeria, barely five days after the Dangote Refinery announced a reduction in its petrol gantry price.
ABN TV Correspondent who monitored filling stations in Abuja on Wednesday reports that MRS, AA Rano, and Bovas filling stations have adjusted their pump prices downward.
Findings show that MRS reduced its pump price to ₦739 per litre from ₦910, AA Rano dropped its price to ₦840 per litre, while Bovas now sells petrol at ₦865 per litre, also down from ₦910. The reduction represents a price drop of between ₦45 and ₦171 per litre.
However, other marketers including Ranoil, Empire Energy, and several filling stations nationwide were observed to have maintained their prices between ₦910 and ₦912 per litre as of Wednesday.
Meanwhile, NNPC Limited retail outlets, particularly along the Kubwa Expressway in Abuja, were out of fuel at the time of filing this report.
Checks further revealed that the ex-depot price of petrol stood at ₦703 per litre for Dangote Refinery and Pinnacle, while Bovas ex-depot price was ₦708 per litre.
The development follows recent remarks by the President of Dangote Refinery, Aliko Dangote, who stated that petrol prices in Nigeria should not exceed ₦740 per litre. His comments have since triggered intensified competition within the downstream oil sector.
Recall that Dangote Refinery last week reduced its petrol gantry price from ₦828 to ₦699 per litre, setting the stage for the ongoing price adjustments by marketers.
ABN TV will continue to monitor the situation and bring updates as more marketers respond to the price changes.
