Nigerians can breathe a sigh of relief as some filling stations across the country have begun lowering the pump price of premium motor spirit (petrol) amid ongoing fluctuations in global crude oil prices.
According to a report by Daily Post, outlets such as Ranoil and Sharon Filling Station in Abuja and nearby areas reduced their petrol price to N1,280 per litre, down from N1,300. This reflects a N20 drop, representing about a 1.54 percent decrease.
In comparison, stations operated by Nigerian National Petroleum Company Limited and MRS Oil Nigeria are currently selling at N1,261 per litre, slightly cheaper than the new rates from Ranoil and Sharon.
However, not all retailers have adjusted their prices. Other outlets, including AA Rano and Empire Energy, continue to sell petrol within the range of N1,300 to N1,330 per litre.
At the supply level, the gantry price at Dangote Refinery remains at N1,175 per litre.
Meanwhile, depot operators such as Pinnacle Oil and Gas, Parker Depot, and Zamson Global Resources are selling within a range of N1,192 to N1,200 per litre.
The price adjustments come as global crude oil benchmarks, particularly Brent crude, recently surged to $114 per barrel before easing to around $107 per barrel as of Thursday night.
