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Again, Nigerian filling stations reduce fuel prices to woo buyers

Nigerian fuel stations, including members of the Independent Petroleum Marketers Association of Nigeria (IPMAN), have lowered petrol prices for the second time this week to attract more buyers.

Abubakar Maigandi, the National President of IPMAN, told INFOLAND on Friday that petrol now costs between N860 and N870 per litre in Lagos, and between N895 and N900 per litre in Abuja.

He explained that the price drop is connected to Dangote Refinery reducing its ex-depot fuel price by N30.

Some filling stations that have not yet updated their prices may still be selling older petrol stock. Maigandi said the price cut is necessary immediately after the refinery’s reduction.

“Dangote Refinery cut its price from N850 to N820 per litre, so our members also adjusted theirs. Stations that haven’t lowered prices yet are still using old fuel,” he told INFOLAND.

Earlier on Thursday, INFOLAND reported that filling stations like MRS, Empire, and Ranoil had already reduced prices to between N885 and N945 per litre in Abuja.

By Friday, other stations including Empire, Ranoil, Mobil, and AA Rano had further lowered their petrol prices to between N890 and N920 per litre.

This comes after the Nigerian National Petroleum Company Limited (NNPC) lowered its retail fuel price to N865 per litre in Lagos and N890 per litre in Abuja.

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