The Independent Petroleum Marketers Association of Nigeria (IPMAN) has announced that petrol prices will decrease to N935 per litre starting Monday. This development follows a new arrangement with the Dangote Petroleum Refinery, which has reduced its ex-depot price for petrol to N899.50 per litre.
According to IPMAN’s National President, Maigandi Garima, the new pricing system will enable marketers to sell petrol at a uniform price nationwide, with a logistics cost of N36. Garima stated that the Dangote refinery aims to standardize fuel consumption rates across the country. Previously, the loading price was N970 per litre, but with the new arrangement, petrol prices are expected to drop to N935 per litre. This development is expected to benefit over 30,000 IPMAN members who will commence petrol loading from the Dangote Petroleum Refinery and the Port Harcourt Refining Company.
In Lagos, some filling stations, including MRS, BOVAS, and NNPC, have already reduced their pump prices to between N950 and N980 per litre. However, prices remain above N1,000 per litre in many other outlets. IPMAN has assured that prices will drop further, with more filling stations expected to sell petrol at N935 per litre by Monday.
Petrol Price Hike: IPMAN Announces New Rate of N935/Litre Effective Today
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