- Petrol Prices Fall as Marketers Adjust Pump Rates
- Filling stations adjust pump prices due to market competition.
- Prices remain stable despite global crude oil fluctuations.
Petrol prices have dropped to ₦1,295 per litre in parts of Abuja and surrounding areas as filling stations adjust pump rates to attract more customers.
Findings on Friday showed that several outlets reduced their prices from ₦1,330 per litre to ₦1,295, representing a ₦35 reduction.
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EKO HOT BLOG reports that the price cut has been implemented by stations such as AA Rano, Ranoil, and Mobil across different locations within the Federal Capital Territory.
The new pricing aligns these outlets with other major downstream players, including Nigerian National Petroleum Company Limited, MRS, AP Ardova, and NIPCO, which have maintained pump prices between ₦1,290 and ₦1,295 in recent weeks.
Reacting to the development, the President of the Independent Petroleum Marketers Association of Nigeria, Abubakar Maigandi, said the reduction was driven by competition among marketers.
He said, “It is required to boost patronage.”
Fuel prices have remained relatively stable since April 9, 2026, despite ongoing fluctuations in global crude oil markets.
Market data on Friday showed West Texas Intermediate crude trading at $94 per barrel, while Brent crude stood at $105 per barrel, amid continued uncertainty around the Strait of Hormuz.
Meanwhile, findings also showed that some filling stations in Ilorin are selling petrol at lower rates, between ₦1,250 and ₦1,270 per litre, offering slightly cheaper options compared to Abuja.
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