Why Nigerian filling stations reduced fuel pump prices - PETROAN
Fuel retailers in Nigeria have reduced pump prices following a decrease in the landing cost of petrol. The price adjustment follows competitive pressure from the Dangote Refinery's lower gantry prices.
Why it matters
Lower fuel prices are critical for the Nigerian economy, as they directly impact transportation costs and inflation for the general population.
The National President of the Petroleum Products Retail Outlets Owners Association of Nigeria, PETROAN, Billy Gillis-Harry, has explained the reason for the recent reduction in fuel prices across Nigeria. Gillis-Harry, in an exclusive interview with DAILY POST on Tuesday, attributed the recent reduction in petrol prices at Nigerian National Petroleum Company Limited, NNPCL, MRS and other filling stations in Abuja to the drop in the landing cost of the product. According to him, if the landing cost of petrol reduces, retail prices also decline. He, however, noted that petroleum retailers and marketers do not reduce fuel prices at a loss.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in