Some Nigerian filling stations reduced fuel pump prices on Tuesday after Dangote Refinery’s N100 per liter gantry price cut.

 

 

UGAMATV reports that Ranoil and Sharon filling stations in Abuja have slightly dropped fuel prices by N20 to N1,330 per liter on Tuesday, from N1,350.

 

According to the report, Nigerian National Petroleum Company Limited retail outlets, MRS and AA Rano, raised their pump price on Tuesday morning to between N126,000 and N1,330 per liter as of Tuesday evening from around N1,090 per liter on Monday. These filling stations are yet to respond to Dangote Refinery’s gantry drop and the drop in global crude prices.

 

 

The report states that Automotive Gas Oil, commonly referred to as diesel, has remained unchanged at N1,780 at Ranoil, AA Rano, and other filling stations in Abuja.

 

A manager at the MRS filling station in Abuja who preferred anonymity confirmed that their petrol price stood at N126,000 and did not say if the price may drop in the coming days following Dangote’s gantry price drop and crude oil price decline.

 

Speaking to Newsmen on the development, the National President of the Petroleum Products Retail Outlets Owners Association of Nigeria, Billy Gillis-Harry, said filling stations may adjust their fuel price downward from now to Friday.

 

“An adjustment may come from now to Friday since Dangote refinery cut gantry price to N1,075 per liter today,” he said

 

Meanwhile, there are reports that Dangote Refinery has suspended gantry petrol sales since Sunday, a development that may make Tuesday’s gantry price drop ineffective.

 

UGAMATV reports that after a N396 per liter gantry fuel price hike in the last ten days, Dangote Refinery reduced its petrol price by N100 to N1,075 per liter on Tuesday.

 

Tuesday’s 650,000-barrel-per-day gantry petrol price drop followed declining global crude oil prices after United States President Donald Trump signaled an end to the Iran war.