“The price of the commodity would continue to fluctuate as the Iran-United States-Israel over-three-month-old crisis in the Middle East persists.”
More Nigerian filling stations have significantly reduced their premium motor spirit pump price to remain competitive and woo patronage.
According to Daily Post market survey, on Thursday, filling stations, including Emedab, Rainoil, Empire Energy, Total, and AA Rano, have dropped their price to between N1,330 and N1350 per litre from above N1,360 per litre in Abuja and its environs.
This means that the above filling stations increased their petrol price by between N10 and N30 per litre.
Recall that MRS, Nigerian National Petroleum Company Limited, NIPCO stations, retail outlets and other filling stations had adjusted downward to N1,317 to N1,335 per litre last week.
The petrol price reduction comes weeks after the Dangote Refinery had slashed its gantry petrol price, which later forced retail prices down.
Speaking on the development, the spokesperson of the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike, said the price of the commodity would continue to fluctuate as the Iran-United States-Israel over-three-month-old crisis in the Middle East persists.
Brent and West Texas Intermediate crude oil prices dropped to $92.02 and $89.11 per barrel as of the time of filing this report.
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