Petrol prices have fallen at Dangote Refinery-backed MRS stations and other retailers across Nigeria, reversing part of the increase recorded over the previous two weeks. A market check in Abuja on Saturday found MRS outlets in Kubwa and on the Lugbe Expressway selling petrol at N1,265 a litre, down from N1,305, while AA Rano stations cut their price by N30 to N1,300 per litre.
The latest changes place retail prices at N1,265 and N1,300 per litre, compared with the earlier levels of N1,305 and N1,330 respectively, after a period of increases linked to volatility in crude markets. The reductions followed Dangote Refinery’s announcement that it would distribute petrol free of charge in at least five states, including the Federal Capital Territory, with the product priced at N1,215 per litre at the gantry. Over the weekend, Brent crude traded at about $84 a barrel and West Texas Intermediate at roughly $87. Depot operators at Pinnacle, Emedab, NIPCO and Sigmund were selling petrol between N1,217 and N1,222 per litre.
