Nigerian filling stations slash petrol prices

Nigerian filling stations have begun reducing petrol pump prices as competition intensifies in the downstream petroleum sector.

A market survey by DAILY POST showed that AA Rano and Mobil cut their prices in Abuja and its environs. AA Rano reduced its pump price from N1,450 to N1,420 per litre, while Mobil lowered its price from N1,435 to N1,410 per litre.

The adjustments represent reductions of N30 and N25 per litre, respectively, although petrol prices remain relatively high across the country.

The development comes amid a decline in international crude oil prices. Brent crude was trading at about $103 per barrel, while West Texas Intermediate (WTI) stood at approximately $100.30 at the time of filing.

Earlier, DAILY POST reported that filling stations were under pressure to reduce pump prices, which had ranged between N1,395 and N1,450 per litre.