Oil marketers sourcing Premium Motor Spirit (PMS), commonly referred to as petrol, from Dangote Petroleum Refinery have reduced the price of the product by 11.8%, bringing it down to N939.50 per litre from the previous N1,060 per litre.
As of yesterday, petrol was still being sold at N1,060 per litre, according to checks conducted by Vanguard in Lagos and surrounding areas.
However, investigations by Saturday Vanguard on Friday revealed that MRS, a prominent marketer, along with a few others, have revised their pump prices.
When approached for comment, MRS Chairman Alhaji Sayyu Idris Dantata chose not to respond, but a visit to the company’s filling station in Ojota, Lagos, confirmed that MRS had commenced sales at N939.50 per litre.
Additionally, Dangote Petroleum Refinery has lowered the ex-pump price of its petrol to N899.50 per litre, down from N970 per litre.
The refinery indicated that this price reduction aims to offer significant relief to Nigerians in anticipation of the upcoming holiday season.
In his statement, the Chief Branding and Communications Officer of Dangote Group, Anthony Chiejina, stated: “To alleviate transport costs during this holiday season, Dangote Refinery is offering a holiday discount on PMS. From today, our petrol will be available at N899.50 per litre at our truck loading gantry or SPM.
“Furthermore, for every litre purchased on a cash basis, consumers will have the opportunity to buy another litre on credit, backed by a bank guarantee from Access Bank, First Bank, or Zenith Bank.”
Price Of Petrol In Bayelsa
However, a report by Vanguard revealed that oil marketers have yet to revise their prices in the South-South states and other areas due to the absence of new supplies at the filling stations.
In Bayelsa State, the NNPC mega stations reportedly offer petrol at N1,040 per litre, whereas most independent marketers sell it for between N1,080 and N1,100 per litre. In Cross River, the price remains at N1,060 at NNPC mega stations, with other major marketers selling the product at N1,070 and higher as of yesterday.
Specifically, Total is retailing the product at N1,090 per litre, while Mobil and Northwest have set their prices at N1,050 and N1,070 per litre, respectively.
In Akwa Ibom State, NNPC stations are selling petrol at N1,070 per litre, while other stations are dispensing it at N1,090 and above, depending on the location.
Additionally, in Rivers State, NNPCL is offering petrol at N1,045 per litre, while other filling stations are selling it for between N1,100 and N1,080 per litre.
Oil marketers anticipate a decrease in prices in the upcoming weeks as new supplies are expected to arrive at the filling stations.
