Nigerians hoping for immediate relief at filling stations after a fresh petrol price reduction by the Dangote Petroleum Refinery have been met with continued high pump prices, as many retailers maintain existing rates while waiting to clear older fuel tock.
The refinery recently reduced its ex-depot price for Premium Motor Spirit (PMS), commonly known as petrol, by ₦75 per liter, bringing the rate down from ₦1,250 to ₦1,175 per liter. The adjustment followed easing global energy pressures and changes in crude oil market conditions.
However, the reduction has not immediately translated into cheaper fuel for many consumers. Several filling stations across the country have continued selling petrol at higher prices, with marketers explaining that they are still dispensing products purchased before the latest price cut.
Industry operators say the retail price adjustment depends on when stations receive new supplies purchased that the reduced depot rate. Until older inventory is exhausted, many marketers argue that immediate price reductions could result in losses.
The delay has frustrated motorists and businesses already struggling with high transportation costs and the wider impact of rising living expenses. Many Nigerians expected the refinery’s price cut to quickly ease pressure on households, especially as fuel costs affect food prices, logistics, and daily commuting.
As marketers adjust to the new pricing structure, consumers are watching closely to see whether pump prices will finally reflect the lower cost of fuel from the refinery in the coming days.
