The Independent Petroleum Marketers Association of Nigeria, IPMAN, has disclosed that filling stations across the country have reduced the pump price of petrol by N125 per litre over the past three weeks following successive reductions in the gantry price of Premium Motor Spirit by Dangote Refinery.
The association made the disclosure on Monday while speaking on the recent changes in fuel pricing across the downstream petroleum sector.
The development comes after the Federal Government held talks with stakeholders in the downstream petroleum industry, including Dangote Refinery, depot owners and petroleum marketers, on the need for cost reflective fuel pricing following the decline in global crude oil prices.
The Federal Government had also called for further reductions in petrol prices through the adoption of cost reflective pricing.
Speaking after the meeting, IPMAN National President, Abubakar Maigandi, said marketers, alongside Dangote Refinery and depot owners, had consistently reduced petrol prices over the past three weeks.
According to him, the pump price of petrol at filling stations has dropped from about N1340 per litre to between N1155 and N1299 per litre nationwide.
“Fuel prices will go down further; that was our major agreement. Both Dangote Refinery and depot owners assured Nigerians.
“Presently, we have reduced it by N125 per litre nationwide,” he said.
