Filling stations across Abuja have begun reducing the pump price of Premium Motor Spirit (PMS), popularly known as petrol, following a continued drop in the landing cost of the product, which has now fallen below the ex-depot price of Dangote Refinery.
Checks on Wednesday revealed that several independent and major marketers, including NIPCO, AA Rano, Eterna, and Empire Energy, have adjusted their pump prices downward.
NIPCO and AA Rano now sell petrol at N940 per litre, a reduction from the previous range of N950 to N955. Similarly, Eterna and Empire Energy retail outlets now dispense at N945 and N955 per litre, down from N955 and N959, respectively.
This latest adjustment represents a price reduction of between N4 and N10 per litre across the Federal Capital Territory (FCT).
The move follows an earlier adjustment by NNPCL Retail, which on Tuesday reduced its pump price to N945 per litre from N955. However, some stations, including MRS (Dangote Petrol) and Ranoil, maintained their prices at N950 and N955, respectively, as of Thursday morning.
“We may reduce our price in the evening or so, but at the moment we still dispense fuel at N950 per litre,” a manager at an MRS filling station in Abuja told reporters on condition of anonymity.
According to recent data from the Major Energy Marketers Association of Nigeria (MEMAN) released on November 3, 2025, the landing cost of petrol dropped to N827.04 per litre, from N829.77 recorded at the end of October.
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Comparative depot data showed that Dangote Refinery’s ex-depot price stood at N872 per litre, slightly above competitors such as NIPCO (N870), AA Rano (N870), BOVAS (N870), Aiteo (N870), and Pinnacle (N872).
This means the landing cost is currently N44.96 cheaper than the ex-depot price from the Dangote facility, signaling continued downward pressure on domestic pump prices.
Meanwhile, President Bola Ahmed Tinubu recently approved a 15 per cent import duty tax on petrol and diesel imports to encourage the growth and competitiveness of Dangote Refinery.
Analysts, however, warn that while this policy supports local refining capacity, it could lead to higher costs for imported fuel in the short term, potentially offsetting current price gains at the pump.
The latest round of price reductions offers temporary relief to motorists amid ongoing fluctuations in global oil prices and domestic market adjustments.