Nigerian fuel retailers have begun trimming the cost of Premium Motor Spirit (PMS), commonly referred to as petrol, after Dangote Refinery lowered its gantry price over the weekend. A market check in Abuja found that some outlets have already passed the cut to customers, while others kept their pump rates steady, and the outlook for further reductions depends on when new refinery-supplied stock arrives.
Price adjustments at Abuja filling stations
A survey conducted on Monday showed that several service stations in Abuja reduced their retail PMS prices following the refinery’s move. Among the sites that adjusted were Sunset Energy and Emedab, which reportedly cut petrol rates to N1,345 and N1,360 per litre respectively from N1,450 and N1,365.
- Sunset Energy in Abuja: PMS reduced to N1,345 per litre from N1,450.
- Emedab in Abuja: PMS reduced to N1,360 per litre from N1,365.
Where petrol prices stayed unchanged
Despite the broader easing in some locations, several retail outlets in Abuja—including Nigerian National Petroleum Company Limited, Ranoil, AA Rano, NIPCO, and MRS—kept petrol prices largely flat at the time of reporting. These stations were still selling PMS in a narrow band of roughly N1,350 to N1,370 per litre.
Dangote’s weekend cut and market response
The latest retail changes trace back to Dangote Refinery’s decision to reduce fuel prices at the weekend by N25 per litre. At the same time, automotive gas oil (AGO), often used for diesel-powered vehicles and generators, was described as unchanged across most filling stations, holding around N1,900 per litre and above N2,000.
- Dangote Refinery reduced gantry petrol pricing by N25 per litre over the weekend.
- Automotive gas oil prices remained steady at about N1,900 and above N2,000 per litre at most stations.
Independent marketers signal further reductions
Industry participants expect additional price movement as inventories are replenished. Abubakar Maigandi, president of the Independent Petroleum Marketers Association of Nigeria, said more members plan to lower petrol prices starting Tuesday, citing receipt of new stock from Dangote Refinery.
Maigandi indicated that, once fresh supplies arrive, retail fuel and diesel prices would fall in line with the refinery’s most recent adjustment.
“As soon as our members receive new stock from Dangote Refinery, fuel and diesel prices would go down in line with the refinery’s latest adjustment,” he said.
