Fuel Relief: Petrol Prices Drop At Filling Stations

According to Ireporter Online, petrol prices have recorded a slight decline in parts of Abuja and surrounding areas as filling stations adjust pump rates in response to market competition.

It was observed that the price of Premium Motor Spirit (PMS) dropped to about ₦1,295 per litre from ₦1,330, marking a reduction of approximately ₦35 per litre. Several outlets, including AA Rano, Ranoil, and Mobil, were reported to have implemented the revised pricing across different locations within the Federal Capital Territory.

The new pricing structure places these stations in close alignment with other major downstream operators such as the Nigerian National Petroleum Company Limited (NNPCL), MRS, AP Ardova, and NIPCO, which have recently maintained pump prices within the ₦1,290 to ₦1,295 range.

Reacting to the development, the President of the Independent Petroleum Marketers Association of Nigeria, Abubakar Maigandi, stated that the adjustment was largely influenced by market competition, noting that the move was aimed at improving patronage across retail outlets.

Meanwhile, fuel prices have remained relatively stable since early April 2026, despite ongoing fluctuations in global crude oil benchmarks. Market data indicated that West Texas Intermediate crude traded at around $94 per barrel, while Brent crude stood at approximately $105 per barrel amid geopolitical uncertainties affecting global supply routes such as the Strait of Hormuz.

In other observations, retail stations in Ilorin were also reported to be offering petrol at comparatively lower rates, ranging between ₦1,250 and ₦1,270 per litre.