Nigerian motorists are beginning to see a slight relief at the pump as several filling stations across Abuja have reduced the pump price of Premium Motor Spirit (PMS) following a continued drop in the landing cost of petrol, which has now fallen below the Dangote Refinery’s ex-depot price.
According to findings by DAILY POST correspondents on Wednesday, NIPCO, AA Rano, Eterna, and Empire Energy filling stations have reviewed their prices downward, reflecting a ₦4 to ₦10 reduction per litre.
New Pump Prices Across Major Outlets
NIPCO and AA Rano: ₦940 per litre (down from ₦950–₦955)
Eterna and Empire Energy: ₦945–₦955 per litre (previously ₦955–₦959)
NNPCL Retail Outlets: Adjusted to ₦945 per litre (from ₦955)
However, some stations such as MRS (Dangote Petrol) and Ranoil—have maintained their pump prices at ₦950 and ₦955 respectively, as of Thursday morning.
“We may reduce our price in the evening or so, but at the moment we still dispense at ₦950 per litre,” an MRS station manager in Abuja told DAILY POST.
Landing Cost Now ₦827.04/Litre
Recent data from the Major Energy Marketers Association of Nigeria (MEMAN) shows that the average landing cost of petrol dropped further to ₦827.04 per litre as of November 3, 2025, down from ₦829.77 recorded at the end of October.
At the same time, ex-depot prices for major suppliers stood as follows:
Dangote Refinery: ₦872
Pinnacle Oil: ₦872
NIPCO: ₦870
AA Rano: ₦870
BOVAS: ₦870
Aiteo: ₦870
This means the Dangote Refinery’s ex-depot price is now ₦2 higher than that of other private depot owners and ₦44.96 above the current landing cost.
Policy Update: 15% Import Duty Approved
The Federal Government, through President Bola Ahmed Tinubu, has approved a 15 per cent import duty on petrol and diesel to encourage local refining and protect investments such as the Dangote Refinery.
However, marketers warn that the new import tariff, when implemented, could increase the price of imported petrol, potentially eroding the current price reductions.
Market Implications
The price cuts signal growing competition among marketers and pressure on ex-depot suppliers to align with falling landing costs.
Industry watchers say the reduction could soon spread to other regions if exchange rates stabilize and depot prices remain low.
Still, despite the downward trend, pump prices remain high compared to the ₦500–₦600 range recorded before mid 2024 subsidy removal and market liberalization.
0 Comments