Fuel marketers across Nigeria have begun slashing petrol prices as the landing cost of premium motor spirit (PMS) continues to fall below Dangote Refinery’s ex-depot rate.

Findings by DAILY POST on Wednesday revealed that several filling stations in Abuja, including NIPCO, AA Rano, Eterna, and Empire Energy, have adjusted their pump prices downward.

NIPCO and AA Rano now sell petrol at N940 per litre, down from between N950 and N955, while Eterna and Empire Energy have reduced theirs to N945 and N955 per litre, respectively, from previous prices of N955 and N959. The cuts represent a reduction of between N4 and N10 per litre.

Similarly, NNPCL retail outlets in Abuja have also dropped their price to N945 per litre from N955.

However, some stations such as MRS (Dangote Petrol) and Ranoil have yet to make adjustments, maintaining prices at N950 and N955 per litre. “We may reduce our price later today, but for now, we are still selling at N950 per litre,” a manager at an MRS station told DAILY POST on condition of anonymity.

Recent data released by the Major Energy Marketers Association of Nigeria (MEMAN) on November 3, 2025, showed that the landing cost of petrol has declined to N827.04 per litre, down from N829.77 recorded at the end of October.

Current ex-depot prices indicate Dangote Refinery sells at N872 per litre, while Pinnacle, NIPCO, BOVAS, Aiteo, and AA Rano each sell at N870. This makes Dangote’s rate slightly higher than those of private depot owners.

With a landing cost of N827.04 per litre, petrol is now N44.96 cheaper than Dangote Refinery’s ex-depot price.

Meanwhile, President Bola Ahmed Tinubu has approved a 15 percent import duty on petrol and diesel to encourage local refining and support Dangote Refinery. Industry experts, however, warn that the decision could drive up the price of imported fuel in the coming days.