Filling stations across the country have dropped fuel prices barely two days after Dangote Refinery reduced its rates.
The Lagos Times reports that this is the case with AA Rano, Ranoil, Nigerian Independent Petroleum Company and other retail outlets in the nation’s capital. The retail outlets now sell petrol between N1,205 and N1,240 per liter, down from N1,300.
Recall that Dangote Refinery on Thursday cut its petrol gantry price to N1,075 per litre following the drop in crude prices, which stood at $68 and $72 for a barrel of West Texas Intermediate and Brent crude, respectively.
Earlier, The Lagos Times reported that Dangote Refinery-backed MRS Filling and the state-owned Nigerian National Petroleum Company Limited, NNPCL, reduced fuel prices in Abuja to N1,191 per litre and N1,210 per litre, respectively.
The Lagos Times reports that while Dangote Refinery and the filling stations have adjusted their petrol prices on several occasions, fuel prices have yet to drop below N1,000 per liter, the rate before the escalation of the conflict in the Middle East.
