Fuel Prices Crash Again As Dangote, BOVAS, AA Rano Lead Fresh Market Adjustments

Fresh adjustments have been made to the pump prices of Premium Motor Spirit (PMS), commonly known as petrol, across several filling stations in Abuja as marketers respond to a further drop in the landing cost of fuel. According to Ireporter Online, the latest market changes have led to a wave of price reductions among major fuel retailers, including Dangote, BOVAS, NIPCO, AA Rano, Eterna, and Empire Energy.

Investigations conducted on Wednesday, November 5, revealed that many filling stations in the Federal Capital Territory have revised their prices downward. NIPCO and AA Rano outlets reportedly now sell petrol at ₦940 per litre, compared to their previous range of ₦950 to ₦955. Similarly, Eterna now dispenses at ₦945 per litre, while Empire Energy sells at ₦955, a decrease from ₦959. These adjustments indicate a reduction of between ₦4 and ₦10 per litre, depending on the station.

It was also gathered that NNPCL Retail has joined in the downward review, cutting its price from ₦955 to ₦945 per litre. However, some marketers, such as MRS (Dangote Petrol) and Ranoil, have retained their prices at ₦950 and ₦955 respectively. An MRS station manager disclosed that while there are plans to possibly review prices later in the day, the current selling price remains unchanged at ₦950 per litre.

According to recent market data, the latest review follows a continued decline in the landing cost of petrol, which dropped to ₦827.04 per litre as of November 3, 2025—down from ₦829.77 recorded at the end of October. A breakdown of ex-depot prices across major marketers shows Dangote Refinery and Pinnacle at ₦872 per litre, while NIPCO, BOVAS, Aiteo, and AA Rano sell slightly lower at ₦870. This places Dangote’s ex-depot price at least ₦2 higher than its competitors.

More notably, the current landing cost remains ₦44.96 cheaper than Dangote Refinery’s ₦872 per litre rate, fueling competition and further price revisions at the retail level.

Industry analysts attribute the ongoing adjustments to recent economic measures by the Federal Government. President Bola Ahmed Tinubu recently approved a 15 per cent import duty on petrol and diesel to encourage local refining and strengthen the competitiveness of the Dangote Refinery. Experts believe that the implementation of this tariff may raise the cost of imported fuel, making locally refined products more favorable in the market.

However, stakeholders suggest that unless Dangote reviews its ex-depot pricing to align with the falling landing cost, independent marketers sourcing from other depots may continue to adjust pump prices downward in the coming days.