Fuel Price Update: NNPCL, MRS Maintain Same Rate as Crude Oil Prices Drop
Abuja, Nigeria - Despite a recent drop in crude oil prices and Dangote Refinery's gantry petrol price adjustment, Nigerian National Petroleum Company Limited (NNPC) and MRS filling stations have maintained their premium motor spirit (PMS) pump prices at N1,395 per litre.
A market survey conducted by DAILY POST on Friday revealed that the prices at NNPC and MRS outlets remained unchanged, while other retail outlets reduced their petrol prices by at least N10 to remain competitive.
The stable fuel prices in Abuja and its environs now range between N1,395 and N1,450 per litre.
Data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority's August factsheet showed that Dangote Refinery supplied over 70% of the country's domestic fuel supply, as imports significantly decreased.
- Dangote Refinery adjusts petrol price: The Dangote Refinery adjusted its gantry petrol price by N25 per litre to N1,325 from N1,350 per litre, reflecting the drop in crude oil prices.
- Crude oil prices drop: The global crude oil prices witnessed a decline, with Brent crude falling to $104 per barrel and WTI to $98 per barrel at the time of reporting.
As a result of the adjustments, other retail outlets have reduced their fuel prices by N10 per litre to remain competitive in the market.
Dangote Refinery supplies 70% of domestic fuel: According to the Nigerian Midstream and Downstream Petroleum Regulatory Authority's August factsheet, Dangote Refinery supplied over 70% of the country's domestic fuel supply, with imports experiencing a significant decrease.
Abuja and Surrounding Areas
Fuel prices in Abuja and its environs: The stable fuel prices in Abuja and its neighboring areas now range between N1,395 and N1,450 per litre.
<small>Source: Daily Post Nigeria — read the original story there.</small>
