Findings showed that many filling stations in Ogun and Lagos States now sell petrol at rates ranging from N875 to N890 a litre. Though some filling stations still sold the product at N900 or above on Sunday, the majority have adjusted to the new price regime.
MRS Oil, a major distributor of Dangote petroleum products, dropped the pump price of PMS to N885 in Lagos from N925 last week. In the South-West, the price would be N895; N905 in the North-West and North-Central; N915 in the South-South, South-East and North-East.
The refinery raised the price of petrol to N880 from N825 when tension escalated during the 12-day conflict between Israel and Iran, raising the price of crude oil to almost $80 per barrel. As peace relatively returned to the Middle East, crude prices crashed again, and the Dangote refinery dropped petrol prices.
However, despite the reduction, marketers had earlier refused to slash their pump prices last week, retaining petrol at prices around N925 to N960, depending on the location. Throughout the week, Dangote partners, the Nigerian National Petroleum Company retail outlets and other filling stations owned by marketers sold petrol at higher prices.
As of Sunday, it was observed that depots have also reduced their gantry prices, some even below Dangote’s price. From N920, most of the depots dropped their ex-depot prices to an average of N840 a litre.
According to Petroleumprice.ng, RainOil, Pinnacle, Matrix, Emadeb, Swift and Wosbab were selling petrol at N840 in Lagos on Sunday. First Royal, Menj, and Aipec dropped prices to N838; Aiteo, N837; A&E, N858; NIPCO, N844; MAO, N839; and Integrated, N839.
0 Comments