Fesochukwu Jason
Fuel prices have dropped across major filling stations in Abuja following recent price reductions by the Nigerian National Petroleum Company Limited and Dangote Refinery.
Checks on Tuesday showed that Mobil, NIPCO, AP Ardova, and Eterna outlets reduced their pump prices to between N1,280 and N1,296 per litre, down from previous rates of N1,370 to N1,390. This reflects a decrease of N90 to N94 per litre for consumers.
The price adjustment comes barely 24 hours after NNPCL lowered its petrol price to N1,295 per litre from N1,361. Last week, Dangote Refinery also announced a reduction of N85 at its gantry price to N1,200 per litre after a series of at least five fuel hikes in March.
The fluctuations in petrol prices were largely driven by global crude oil volatility linked to geopolitical tensions in the Middle East, particularly the Iran and United States-Israel conflict. Analysts say the recent price cuts may provide temporary relief for consumers but caution that fuel costs could remain sensitive to international market dynamics.
Juliet Ezeh is the founder and chief reporter at Westbridge Reporters with over 7 years of experience in journalism. She covers crime, industry, policy, and social developments, delivering timely and accurate reporting.