Operators adjust pump prices as market responds to low crude regime

Dangote adjusts diesel price to N940 per Litrer

Downstream sector operators have adjusted the prices of Premium Motor Spirit (PMS), also known as petrol, and other petroleum products due to the continued fall in crude oil prices.According to Petroleum Price NG, Nipco and Rainoil adjusted their pump prices to ₦842 per litre from over ₦841 per litre. Similarly, Rainoil Delta in Warri adjusted its petrol price to ₦860 per litre from ₦865 per litre, while Mainland in Calabar adjusted its petrol price to ₦874 per litre from ₦875 per litre.

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May 6, 2025

Operators adjust pump prices as market responds to low crude regime

Operators adjust pump prices as market responds to low crude regime
…Dangote adjusts diesel price to N940 per Litre

Downstream sector operators have adjusted the prices of Premium Motor Spirit (PMS), also known as petrol, and other petroleum products due to the continued fall in crude oil prices.

According to Petroleum Price NG, Nipco and Rainoil adjusted their pump prices to ₦842 per litre from over ₦841 per litre. Similarly, Rainoil Delta in Warri adjusted its petrol price to ₦860 per litre from ₦865 per litre, while Mainland in Calabar adjusted its petrol price to ₦874 per litre from ₦875 per litre.

Nipco adjusted the price of Automotive Gas Oil (AGO), also known as diesel, to ₦955 per litre from ₦980 per litre, while Dangote adjusted the price to ₦940 per litre from ₦946 per litre.

Meanwhile, the Petroleum Products Retail Owners Association of Nigeria (PETROAN) welcomed the Federal Government’s decision to ban the importation of foreign goods produced locally.
In his statement, PETROAN’s National President, Dr. Billy Gillis-Harry, commended President Tinubu for the bold step but advised the government to ensure that the policy does not lead to shortages or price increases, particularly in the petroleum sector.

The association urged the government to phase out essential and sensitive products gradually, considering factors like local availability, quality standards, and strategic importance. PETROAN emphasised the need for increased investment in local refining infrastructure and support for domestic industries to enhance their competitiveness.

PETROAN said its primary concern is ensuring the availability and affordability of petroleum products in Nigeria, meeting the daily consumption volume of over 46 million litres of petrol and other petroleum products, without compromising energy security.

Source :Vanguard News