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Tag: petrol price

MTN, Banking stocks fuel NGX's bullish run
featured Oil and Gas

Fuel price hike looms as crude oil crosses $66/barrel

Pump prices of Premium Motor Spirit, also known as petrol, alongside other refined petroleum products such as Automotive Gas Oil and Household Kerosene, may rise soon following an increase in global crude oil prices. Crude oil, which serves as the primary feedstock for refined petroleum products, crossed the $66 per barrel mark on Wednesday, raising […]

featured Oil and Gas

Petrol price war deepens as stations sell below Dangote’s rate

The competition in Nigeria’s downstream petroleum sector has intensified as several filling stations have reduced the pump price of Premium Motor Spirit below the N739 per litre benchmark recommended by the Dangote Petroleum Refinery. Following the Dangote refinery’s decision in December to slash petrol prices from about N900 to N739 per litre, importers and depot […]

Oil and Gas

NNPCL posts N502bn profit as petrol prices fall

The Nigerian National Petroleum Company Limited posted a profit after tax of N502bn in November 2025, extending its profitability run even as crude oil and condensate production declined during the period. The strong financial showing came as the state-owned energy company entered an intensifying price war in the downstream petroleum sector by cutting the pump […]

Oil and Gas

Petrol price war will benefit Nigerians, says NNPCL boss

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Bayo Ojulari, has assured Nigerians that the ongoing price competition in the downstream petroleum sector will ultimately favour consumers. Ojulari said the present tensions in the market are a natural outcome of Nigeria’s shift from near-total reliance on fuel imports to domestic refining […]

Fuel scarcity'll continue after polls, marketers warn
Oil and Gas

Long queues emerge in Lagos as MRS slashes petrol price

Motorists on Wednesday thronged MRS filling stations across Lagos following a reduction in the pump price of petrol from N890 to N739 per litre, a development that eased fuel costs but resulted in long queues across the metropolis. According to the News Agency of Nigeria, who monitored activities at several filling stations, long but orderly […]

featured Oil and Gas

Dangote price cut triggers petrol price war in Lagos, Ogun — Report

As more MRS filling stations in Lagos and Ogun states began dispensing Premium Motor Spirit produced by the Dangote Petroleum Refinery at ₦739 per litre, motorists have increasingly boycotted retail outlets selling petrol at higher prices. According to The PUNCH, the development has forced several filling stations to slash their pump prices by about ₦100 […]

NNPCL sets fuel price above N1000 per litre
featured Oil and Gas

NNPCL slashes petrol price to N835/ltr

The Nigerian National Petroleum Company Limited has reduced the pump price of petrol for the third time in December 2025. According to Daily Post, monitoring fuel stations across Abuja on Thursday, it was observed that NNPCL lowered the price of petrol to N835 per litre from the previous N915. The adjustment represents a reduction of […]

featured Oil and Gas

Dangote Refinery PMS supply to crash petrol prices — IPMAN

The Independent Petroleum Marketers Association of Nigeria has called on its members nationwide to patronise the Dangote Petroleum Refinery in the purchase of Premium Motor Spirit noting that the refinery currently offers the most affordable prices for marketers, even as free delivery is expected to commence in January 2026. The association expressed satisfaction over a […]

featured Oil and Gas

Dangote Refinery slashes petrol price to N699

The Dangote Petroleum Refinery has announced a major reduction in the ex-depot price of Premium Motor Spirit, bringing the rate down from N828 to N699 per litre. This new benchmark price, updated and published on Friday by Petroleumprice.ng, represents a N129 drop, which is approximately a 15.6 per cent reduction. A senior official of the […]

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