Fuel Prices Poised to Drop Near ₦1,000 per Litre as Crude Costs Fall
Industry sources report that Nigerian filling stations plan to lower premium motor spirit prices to around ₦1,000 per litre amid easing crude oil prices. The Nigerian National Petroleum Company Limited has cut its pump price to ₦1,210 per litre, while Dangote Refinery’s gantry rate eased to ₦1,125. The Federal Competition and Consumer Protection Commission has warned oil marketers against profiteering. An anonymous MRS station manager in Abuja said retailers would reduce prices to between ₦1,201 and ₦1,191 by midweek. The Independent Petroleum Marketers Association confirmed further cuts if global crude benchmarks, currently near $72–$70 per barrel, continue to slide. Experts say the gradual adjustment reflects basic demand and supply dynamics and could bring much-needed relief to motorists across the country.
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