New petrol prices have emerged at some Nigerian National Petroleum Company Limited (NNPC) retail outlets in Lagos as marketers adjust to lower ex-depot rates across key fuel supply hubs.
Legit checks today showed that at Egbeda and Ipaja, most across at NNPC filling stations are now selling below N1,320 official price to between N1,300 and N1,315 per litre.
At Egbeda bus stop, NNPC outlets pump is set at N1,300 per litre, while in Ipaja, it is sold at N1,315 per litre. These price reductions were observed at various stations.
Depots adjust petrol priceÂ
Similarly, at depots across the country, petrol prices dropped within one week of trading, from May 18 to May 22.
In Lagos, Bono depot decreased prices from N1,279 to N1,277 per litre, while Integrated, Quest and African Terminal’s prices decreased from N1,279 to N1,277 per litre, whereas Techno Oil and Aiteo were sold from N1,278 to N1,277 per litre, Petroluemprice.ng reports.
Marketers in Warri, such as Rain Oil, reduced petrol prices from N1,315 to N1,290 per litre, representing a N25 decline. Nepal also cut its PMS price from N1,292 to N1,285 per litre, while Optima reduced its price from N1,290 to N1,285 per litre. Parker, on the other hand, lowered its PMS price from N1,292 to N1,290 per litre.
Supply improved, and the prices decreased at the Warri market at the tail end of the week. Similarly, petrol price dropped slightly in Calabar as Sobaz changed prices from N1,298 to N1,290 while Northwest, Fynefield, and Soroman fell from N1,300 to N1,290 per litre respectively.
The PMS prices in Calabar have, however, remained the highest in the Nigerian market throughout the period of review, despite the drop.
Depots selling minimum prices across regions
AIPEC (Lagos): N1,276
Sahara (Lagos): N1,276
Bulk Strategic (Port Harcourt): N1,305
Nepal (Warri): N1,285
Optima (Warri): N1,285
Fynfield (Calabar): N1,290
Northwest (Calabar): N1,290
Sobaz (Calabar): N1,290
Soroman (Calabar): N1,290
