Amid Middle East Crisis, Nigerian Filling Stations Reduce Petrol Prices
Nigerian filling stations have reduced their petrol pump prices to remain competitive in the country’s downstream petroleum sector.
A market survey by Newsmen showed that while petrol prices have remained high, AA Rano, Mobil and some other filling stations have slightly reduced their pump prices.
AA Rano and Mobil reduced their petrol pump prices to N1,420 and N1,410 per litre, respectively, from N1,450 and N1,435 in Abuja and its environs.
This means the filling stations adjusted their petrol prices downward by N30 and N25 per litre, respectively.
TGM reports that the marginal price drop comes as crude oil prices fell to around $103 and $100.30 per barrel for Brent and West Texas Intermediate (WTI), respectively, at the time of filing this report.
Earlier, TGM reported that Nigerian filling stations were under pressure to adjust their fuel prices, which stood between N1,395 and N1,450 per litre
