Fuel pump prices have dropped again at several filling stations in Abuja and other parts of Nigeria, following another reduction in the cost of petrol by major petroleum retailers.
A market survey conducted on Monday showed that MRS filling stations, which are backed by Dangote Refinery, reduced their petrol price from ₦1,260 to ₦1,210 per litre in Abuja and surrounding areas.
The latest adjustment represents a ₦50 reduction per litre.
Meanwhile, AA Rano and some other filling stations along the Kubwa Expressway also reduced their pump prices by about ₦25 per litre, bringing the price to approximately ₦1,275 per litre.
The latest reductions come shortly after Dangote Refinery announced a downward review of the prices of Premium Motor Spirit (PMS), commonly known as petrol, as well as Automotive Gas Oil (AGO), or diesel.
The development marks another round of fuel price reductions in recent weeks. About eight days earlier, MRS and other petroleum retailers had lowered their petrol prices by between ₦25 and ₦45 per litre.
The continued price adjustments are expected to provide some relief to motorists and businesses, particularly as fuel costs have a direct impact on transportation and the prices of goods and services across the country.
However, pump prices may continue to vary from one filling station and location to another depending on supply costs and the pricing decisions of individual marketers.
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