Fuel prices have started to drop at several filling stations in Abuja as the landing cost of petrol falls below Dangote Refinery’s ex-depot rate.
Checks on Wednesday showed that major marketers such as NIPCO, AA Rano, Eterna, and Empire Energy have adjusted their pump prices.
Major Marketers Adjust Prices
NIPCO and AA Rano now sell petrol at ₦940 per litre, down from ₦950–₦955, while Eterna and Empire Energy reduced prices to ₦945 and ₦955 respectively — a cut of between ₦4 and ₦10.
NNPC retail stations have also revised prices to ₦945 per litre in line with market trends. However, MRS (Dangote Petrol) and Ranoil still sell at ₦950 and ₦955.
A station manager said, “We may reduce our price in the evening, but for now, we still sell at ₦950 per litre.”
Refinery and Depot Rates
According to the Major Energy Marketers Association of Nigeria, the landing cost of petrol has fallen to ₦827.04 per litre, compared to ₦829.77 in late October.
Depot prices have also dropped slightly — Dangote Refinery’s ex-depot price stands at ₦872 per litre, while NIPCO, AA Rano, BOVAS, and Aiteo offer ₦870 per litre.
This means Dangote’s rate is ₦2 higher than other depots, leaving a ₦44.96 gap between the refinery’s price and the current landing cost.
Government Policy Impact
The price cut follows President Bola Tinubu’s approval of a 15% import duty on petrol and diesel, aimed at encouraging local refining and supporting Dangote Refinery operations.
Experts believe this policy could further shape fuel pricing as it takes effect.
In October, several independent marketers also reviewed their pump prices after a similar decline in global crude oil prices, marking what appears to be a gradual market adjustment.
