Petrol prices moved in both directions across Nigeria over the past week, as depot, gantry and retail rates changed at different points in the supply chain.
Quick facts
- Dangote Refinery’s gantry petrol price remained at N1,350 per litre.
- Some depots cut their rates by N5 to N6 per litre, to N1,344-N1,345.
- Retail prices in Abuja currently range from N1,370 to N1,420 per litre.
- NNPCL stations briefly sold at N1,370 before raising the price to N1,405 per litre over the weekend.
While Dangote Refinery kept its gantry price for Premium Motor Spirit, commonly called petrol, at N1,350 per litre, several depot operators lowered their own prices. Their reductions of between N5 and N6 per litre brought ex-depot prices to a range of N1,344 to N1,345.
Pump prices also varied among filling stations. Some marketers raised their retail rates during the week, while others made reductions.
In Abuja, motorists are paying between N1,370 and N1,420 per litre, depending on the station and its location within the Federal Capital Territory and surrounding areas.
MRS outlets recently increased their petrol price to N1,409 per litre. Other fuel retailers around Nigeria also lifted their pump prices.
Some Nigerian National Petroleum Company Limited, or NNPCL, stations initially reduced their petrol price to N1,370 per litre. They subsequently raised it to N1,405 per litre during the weekend.
The changes at NNPCL retail outlets came as the Federal Government’s proposed N1,350-per-litre fixed petrol price has yet to take effect.
President Bola Ahmed Tinubu, through Finance Minister Taiwo Oyedele, had announced the planned N1,350 per litre price at NNPCL stations. The government has said the proposed arrangement would not amount to a return of petrol subsidies.
