Petrol Prices Drop as Dangote Refinery Cuts Rates
Filling stations along the Lagos-Ibadan Expressway have lowered petrol prices to attract customers amid market competition. The average price is now N1,205 per liter, following a reduction in the petrol gantry price by Dangote Petroleum Refinery last week.
Various stations are selling petrol at different prices, with the lowest being N1,199 per liter at a station owned by SGR. Other prices include N1,205 at Nipco, N1,220 at Mobil, and N1,285 at Heyden.
The Nigerian National Petroleum Company limited its sale of premium motor spirit to N1,245 per liter last week. The decline in petrol and diesel prices is attributed to a retreat in global crude oil prices, which had previously risen due to tensions in the Middle East.
The latest adjustments from Dangote Petroleum Refinery include a reduction in diesel gantry price to N1,500 per liter, reflecting a 6.25% decrease from the previous price of N1,600 per liter.
Plus234Feed summary based on reporting from Punch Newspapers. Read the original report below.
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