By Jelili Gbadamosi
Motorists across parts of Nigeria have received some relief as major filling stations, including Dangote Refinery-backed MRS and AA Rano, reduced their petrol pump prices following recent increases driven by crude oil price volatility.
Checks on Saturday showed that MRS filling stations in Abuja, including outlets in Kubwa and along the Lugbe Expressway, cut the pump price of Premium Motor Spirit (PMS) from ₦1,305 to ₦1,265 per litre, representing a ₦40 reduction.
AA Rano also adjusted its pump price downward by ₦30, reducing the cost of petrol from ₦1,330 to ₦1,300 per litre.
The latest reductions come barely two weeks after marketers raised fuel prices amid fluctuations in global crude oil prices, easing some of the pressure on consumers and transport operators.
The development follows Dangote Refinery’s recent announcement of a nationwide petrol distribution initiative, with a gantry price of ₦1,215 per litre for marketers across at least five states and the Federal Capital Territory (FCT).
Meanwhile, petroleum depots, including Pinnacle, Emedab, NIPCO and Sigmund, were reported to be dispensing petrol at prices ranging between ₦1,217 and ₦1,222 per litre, suggesting a gradual adjustment in downstream market prices.
The latest pump price cuts are expected to influence retail pricing across other filling stations as competition intensifies in the deregulated petroleum market.
