Tag: Petrol Price

Fuel stations in Nigeria have started lowering petrol prices following a drop in the landing cost of premium motor spirit, which now sits below Dangote Refinery’s ex-depot price. DAILY POST reports that major filling stations in Abuja, including NIPCO, AA Rano, Eterna, and Empire Energy, have reduced their pump prices. NIPCO and AA Rano now sell petrol at N940 per litre, down from N950–N955, while Eterna and Empire Energy have adjusted their prices to N945 and N955 per litre, respectively, from N955 and N959. The reductions range from N4 to N10 per litre. NNPCL outlets in the city have also cut their price to N945 per litre from N955. Some stations, including MRS (Dangote Petrol) and Ranoil, have not yet changed their rates, maintaining prices at N950 and N955 per litre. An MRS manager, speaking anonymously, said, “We may reduce our price later today, but for now, it remains N950 per litre.” The price cuts follow data released on November 3, 2025, by the Major Energy Marketers Association of Nigeria, which showed the landing cost of petrol dropped to N827.04 per litre from N829.77 at the end of October. Current ex-depot prices for major refiners show Dangote Refinery at N872 per litre, Pinnacle at N872, and NIPCO, BOVAS, Aiteo, and AA Rano at N870 per litre. This makes Dangote Refinery slightly more expensive than some depot owners, while the landing cost is N44.96 lower than Dangote’s ex-depot price. The adjustments come as President Bola Ahmed Tinubu approved a 15 percent import duty on petrol and diesel to promote Dangote Refinery. Analysts warn that once implemented, the duty could increase the cost of imported fuel in the coming days.