Nigerian filling stations reduce fuel price

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Amid fluctuations in crude oil prices, certain filling stations in Nigeria have lowered the pump prices for premium motor spirit.

The petrol pump prices at Ranoil and Sharon filling stations in Abuja and nearby regions have been reduced to N1,280 per liter from the previous price of N1,300.

This indicates that petrol retail outlets reduced their fuel price by N20, which equates to 1.54 percent.

In the meantime, petrol is being sold at N1261 per liter by MRS filling stations and the Nigerian National Petroleum Company Limited. This price is N19 lower than that of Ranoil and Sharon.

Other petrol stations, including AA Rano and Empire Energy, offer petrol at prices ranging from N1,300 to N1,330.

At the time this report was filed, the gantry price of petrol at Dangote Refinery was N1,175 per liter. In contrast, depot owners like Pinnacle, Parker, and Zamson had prices ranging from N1,192 to N1,200 per liter.

As a reminder, the price of crude oil—Brent crude in particular—had climbed to $114 per barrel before it cooled to $107 per barrel on Thursday night.

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