Some Nigerian filling stations lowered fuel pump prices on Tuesday after Dangote Refinery announced a N100 per liter gantry price reduction.
Ranoil and Sharon Filling Stations in Abuja reduced petrol prices slightly by N20, bringing the cost down to N1,330 per liter from N1,350.
Meanwhile, Nigerian National Petroleum Company Limited retail outlets, along with MRS and AA Rano, increased their pump prices on Tuesday morning to between N1,260 and N1,330 per liter from around N1,090 per liter on Monday. These stations have yet to reflect Dangote Refinery’s gantry price reduction or recent declines in global crude oil prices.
Diesel, also known as Automotive Gas Oil, has remained unchanged at N1,780 at Ranoil, AA Rano, and other Abuja stations. A manager at MRS Filling Station, who preferred to remain anonymous, confirmed that their petrol price was N1,260 per liter and did not indicate whether it would drop in response to Dangote’s gantry adjustment.
Speaking on the development, Billy Gillis-Harry, National President of the Petroleum Products Retail Outlets Owners Association of Nigeria, said fuel prices at filling stations could be adjusted downward between now and Friday. “An adjustment may come from now to Friday since Dangote Refinery cut gantry price to N1,075 per liter today,” he said.
Reports also indicate that Dangote Refinery suspended gantry petrol sales since Sunday, which may limit the immediate effect of Tuesday’s price reduction.
After a N396 per liter gantry fuel price increase over the past ten days, Dangote Refinery reduced petrol prices by N100 to N1,075 per liter on Tuesday. This move coincided with falling global crude oil prices following signals from Donald Trump about a potential end to the Iran war.
