The move follows two ex-depot price cuts in July alone by the 650,000-barrel-per-day Dangote Refinery.
Nigerian petroleum marketers have reduced petrol prices effective Tuesday, coinciding with the federal government’s declared public holiday to honour the late ex-President Muhammadu Buhari.
National President of the Independent Petroleum Marketers Association of Nigeria, Abubakar Maigandi, told DAILY POST on Monday that IPMAN members agreed to cut retail prices after Dangote Refinery lowered its ex-depot rate to N820 from N840 per litre.
“We met on Tuesday and agreed to reduce petrol price to between N900 and N920 per litre for our members in Abuja, north central. Similarly, our members in some other parts of the country will be selling below around N860 and N890 per litre,” Maigandi said.
The move follows two ex-depot price cuts in July alone by the 650,000-barrel-per-day Dangote Refinery.
The reduction also comes as global oil prices dipped, with Brent at $69.10 and WTI at $66.98 per barrel on Monday. Buhari will be buried Tuesday in Daura, Katsina State.