Fuel price reduces
Some filling stations across Nigeria have reduced the pump price of petrol as they compete for customers.
Findings showed that in Abuja and nearby areas, petrol is now sold for about N1,295 per litre, down from the previous N1,330. This reflects a reduction of N35 per litre.
The new pricing has already been seen at stations operated by AA Rano, Ranoil, and Mobil in different parts of the city.
The adjustment brings their prices in line with other major operators in the downstream sector, including the Nigerian National Petroleum Company Limited, MRS, AP Ardova, and NIPCO, which have been selling petrol between N1,290 and N1,295 for some time.
The president of the Independent Petroleum Marketers Association of Nigeria, Abubakar Maigandi, explained that the price cut is aimed at attracting more customers to their stations.
Fuel prices have remained fairly steady since April 9, 2026, even as global oil prices continue to react to tensions linked to the conflict between Iran and the United States in the Middle East.
As of Friday, crude oil prices stood around $94 per barrel for West Texas Intermediate and $105 per barrel for Brent, influenced by concerns over the Strait of Hormuz.
