Nigerian filling stations reduce petrol prices
Nigerian filling stations have begun reducing petrol pump prices in an effort to remain competitive within the country’s downstream petroleum sector.
A recent market survey revealed that, despite generally high petrol prices, several filling stations, including AA Rano and Mobil, have made slight reductions. AA Rano lowered its price to N1,420 per litre from N1,450, while Mobil adjusted its price to N1,410 from N1,435 in Abuja and surrounding areas. This represents a decrease of N30 and N25 per litre, respectively.
The price adjustments coincide with a decline in crude oil prices, which are currently hovering around $103 per barrel for Brent and $100.30 per barrel for West Texas Intermediate, according to sources at the time of this report.
Earlier observations indicated that Nigerian filling stations were facing mounting pressure to reduce fuel prices, which had previously ranged from N1,395 to N1,450 per litre.
