Some filling stations in Nigeria have lowered their pump prices for petrol, offering slight relief to consumers amid fluctuating market conditions.
Findings on Monday showed that Ranoil reduced its petrol price to N1,370 per litre from N1,440. Empire Energy also adjusted its price to N1,383 per litre, down from N1,430. The changes represent reductions of N70 and N37 per litre respectively.
A station manager, who did not want his name mentioned, explained that the decision was driven by competition within the downstream petroleum sector. He said, “the adjustment was to remain competitive in petrol pricing in the country’s downstream sector.”
Meanwhile, other major marketers have maintained slightly lower rates. Nigerian National Petroleum Company Limited sells petrol at N1,361 per litre, while MRS stations offer it at N1,367 per litre.
The price adjustments come at a time when global crude oil prices are declining. Brent crude dropped to $100.2 per barrel, while West Texas Intermediate fell to $88.85 per barrel. The fall followed confirmation from authorities in the United States and Iran that discussions are ongoing to prevent further escalation of conflict in the Middle East.
The drop in crude prices has raised expectations that Dangote Refinery may also review its gantry price, which stood at N1,245 per litre after several increases recorded in March 2026.
