Fuel Price Crash Imminent! Marketers Join Dangote’s Monday Slash Plan

The recent petrol price cut by Dangote Refinery has prompted independent fuel marketers, under the Independent Petroleum Marketers Association of Nigeria (IPMAN), to announce plans to reduce the pump price of Premium Motor Spirit (PMS) starting Monday.....KINDLY READ THE FULL STORY HERE▶

On Thursday, Dangote Refinery reduced its ex-depot price of petrol from ₦840 to ₦820 per litre, triggering immediate reactions from marketers across the country.

In an interview with Daily Post on Friday, IPMAN National President, Abubakar Maigandi, confirmed that members of the association would also lower their retail prices in response to the refinery’s move.

“Regardless of whether it’s Dangote Refinery or another supplier adjusting prices, our members will follow suit. A new fuel price will be announced on Monday,” Maigandi said.

He also revealed that IPMAN members are scheduled to hold an official meeting on Monday, during which a revised pump price will be finalized and announced to the public.

Despite the refinery’s reduction, petrol prices in Abuja remained steep as of Friday, with stations selling fuel between ₦905 and ₦945 per litre, according to Daily Post findings.

Major suppliers such as NNPC Ltd., NIPCO, AA Rano, and Shema were retailing PMS around ₦910 per litre, while outlets affiliated with Dangote Refinery, including MRS and AP Ardova, sold for ₦905 per litre.

Meanwhile, other marketers like Ranoil, Empire Energy, and Total Emadeb offered petrol at higher prices ranging from ₦920 to ₦945 per litre across the Federal Capital Territory.