Fuel prices at stations nationwide have eased just days after Dangote Refinery lowered its posted rates, according to a fresh check by a business news survey. The move comes as retailers recalibrate pump costs following changes higher up the supply chain.<\/p>\n
The survey, carried out on Saturday, found that stations operating in Abuja and surrounding areas have revised their petrol pricing. Several outlets\u2014including AA Rano, Ranoil, Nigerian Independent Petroleum Company, and other retail marketers\u2014were reported to have updated their pump prices in line with the new pricing environment.<\/p>\n
Retailers in the capital are now selling petrol at between N1,205 and N1,240 per litre. That represents a reduction from the previous level of about N1,300 per litre, narrowing the gap for consumers compared with earlier weeks.<\/p>\n
It follows the decision by Dangote Refinery on Thursday to cut its petrol gantry price to N1,075 per litre. The refinery attributed the change to lower crude oil prices, which were reported at $68 and $72 per barrel for West Texas Intermediate and Brent respectively.<\/p>\n
Earlier reporting also indicated that Dangote Refinery-backed MRS Filling and the state-owned Nigerian National Petroleum Company Limited (NNPCL) reduced fuel prices in Abuja to N1,191 per litre and N1,210 per litre, respectively. The latest adjustments suggest the price cuts are continuing to filter through to the retail level.<\/p>\n
Even with the recent downward revisions by Dangote Refinery and petrol stations, prices have not yet fallen below N1,000 per litre\u2014an important psychological and economic benchmark. That threshold had been seen before the escalation of the Middle East conflict, which had contributed to upward pressure on global energy costs.<\/p>\n","protected":false},"excerpt":{"rendered":"
Fuel prices at stations nationwide have eased just days after Dangote Refinery lowered its posted rates, according to a fresh check by a business news survey. The move comes as retailers recalibrate pump costs following changes higher up the supply chain. The survey, carried out on Saturday, found that stations operating in Abuja and surrounding […]<\/p>\n","protected":false},"author":2,"featured_media":2701,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_yoast_wpseo_title":"Nigerian Petrol Price Cuts Follow Dangote Refinery Rates","_yoast_wpseo_metadesc":"Nigerian petrol prices fall nationwide after Dangote Refinery trims posted rates, with Abuja-area stations adjusting pump costs fo","mma_seo_breadcrumb_text":"","mma_seo_breadcrumb_url":"","mma_seo_breadcrumb_hide_ui":"","mma_seo_breadcrumb_labels":[],"footnotes":""},"categories":[5],"tags":[],"class_list":["post-2702","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business"],"yoast_head":"\n