Petrol Prices Drop Across Filling Stations Nationwide

Petrol prices have fallen at numerous filling stations along the Lagos–Ibadan Expressway and in parts of Lagos and Ogun states, dipping below ₦1,300 per litre in several outlets.

The downward adjustment follows a price cut announced on Sunday by Dangote Petroleum Refinery. The refinery reduced its ex-depot gantry price of petrol from ₦1,275 to ₦1,250 per litre and lowered diesel from ₦1,800 to ₦1,700 per litre. According to company officials, the review reflects a recent decline in global oil prices and underscores Dangote’s commitment to making refined petroleum products more affordable, delivering cost relief to both consumers and businesses across Nigeria.

In response to the refinery’s move, checks along the Mowe/Ibafo axis of the Lagos–Ibadan Expressway showed that several independent marketers immediately revised their pump prices. MRS filling stations, for instance, dropped petrol to ₦1,286 per litre, while NIPCO and Heyden offered the product at ₦1,290 per litre, and SGR adjusted to ₦1,297 per litre. In the diesel market, many outlets also cut prices to ₦1,800 per litre from the previous ₦1,900.

Despite these reductions, a number of retail stations continue to sell petrol above the ₦1,300 threshold. Outlets operated by the Nigerian National Petroleum Company Limited (NNPC) in Ibafo adjusted to ₦1,305 per litre, while Mobil and Asharami retailed at ₦1,310 and ₦1,320 per litre, respectively.

The price relief comes after an extended period of elevated fuel costs in Nigeria. Petrol had surged from ₦830 per litre to over ₦1,300 after global crude oil prices climbed past $115 per barrel, driven by geopolitical tensions between the United States and Iran.