Petrol price war:Stations hint at N1,000 per litre as crude keeps falling

Nigerian filling stations have signaled plans to drop petrol prices toward N1,000 per litre in the coming days, following sequential price cuts by NNPCL and Dangote Refinery and amid sustained pressure from falling global crude oil prices and consumer advocacy.

The petrol price needle is finally moving — and Nigerian marketers say there’s more relief coming.

According to DAILY POST, the last two weeks have seen a steady downward trend in Nigeria’s petroleum downstream sector, with NNPCL recently slashing its pump price to N1,210 per litre, just two days after Dangote Refinery adjusted its gantry price to N1,125 per litre.

The cuts come as crude oil prices retreated to around $73 per barrel, down sharply from over $100 amid easing Middle East tensions — fueling growing public pressure for matching relief at the pump.

That pressure intensified after the Federal Competition and Consumer Protection Commission warned oil firms against exploitation and profiteering, following a DAILY POST report highlighting the federal government’s silence on the price gap.

Marketers appear to be responding. An anonymous MRS filling station manager in Abuja told DAILY POST the outlet plans to drop prices to between N1,191 and N1,201 per litre by Tuesday or Wednesday.

Independent Petroleum Marketers Association of Nigeria spokesperson Chinedu Ukadike confirmed further cuts are likely.

“It’s possible the fuel price will drop to N1000 per litre or less if the crude oil price keeps reducing and refiners and depot owners follow. It is simply based on the factors of demand and supply,” Ukadike said.

As of Monday night, pump prices in Abuja ranged between N1,210 and N1,300 per litre, while Brent and WTI crude stood at $72 and $70 per barrel respectively.

The countdown to N1,000 has officially begun — Nigerians are watching closely.