Breaking: Petrol Prices Drop at Some Filling Stations Amid Market Changes

Some filling stations across Nigeria have reduced their retail petrol prices following recent fluctuations in the global crude oil market.

Checks by Daily Post on Monday showed that Ranoil and Empire Energy filling stations adjusted their petrol pump prices downward.

Ranoil reduced its pump price to ₦1,370 per litre, down from ₦1,440, while Empire Energy dropped its price to ₦1,383 per litre from ₦1,430.

The reductions represent a ₦70 and ₦37 decrease per litre respectively.

A manager at one of the filling stations, who requested anonymity, said the price adjustment was aimed at maintaining competitiveness within Nigeria’s downstream petroleum sector.

According to him, the increasing competition among marketers has made price adjustments necessary.

Meanwhile, the Nigerian National Petroleum Company Limited (NNPCL) and MRS filling stations are currently dispensing petrol at ₦1,361 and ₦1,367 per litre, respectively.

The price adjustments came as global crude oil prices dropped sharply.

Brent crude fell by almost 10 percent to $100.2 per barrel, while West Texas Intermediate dropped to $88.85 per barrel.

The decline followed confirmation by authorities in the United States and Iran that talks were underway to prevent further escalation of tensions in the Middle East.

The downward trend in crude oil prices has raised expectations that the Dangote Refinery may also reduce its gantry petrol price.

The refinery’s current gantry price stands at ₦1,245 per litre, following several increases recorded in March 2026.

The price was adjusted from ₦1,175 to ₦1,245 per litre, with the change taking effect from 12:00 a.m. on March 21, 2026.

According to the refinery, the revised rate apply to all outstanding and unloaded volumes.

In a notice sent to marketers, the Refinery said customers with pending orders are expected to comply with the new pricing structure.