Nigerian filling stations have begun reducing their fuel pump prices, five days after the Dangote Refinery lowered its gantry price.

A market survey conducted by DAILY POST on Sunday morning revealed that major marketers including Eterna, NIPCO, AA Rano, and Ranoil have adjusted their pump prices to between N1,280 and N1,300 per litre, down from the previous N1,340 per litre in Abuja and surrounding areas.

This reflects a price reduction ranging from N35 to N55 per litre across the affected outlets.

However, retail outlets operated by the Nigerian National Petroleum Company Limited (NNPCL) have yet to implement any price changes, maintaining their pump price at N1,335 per litre.

Earlier reports indicated that MRS filling stations, backed by the Dangote Refinery, had on Friday reduced their fuel price by N76 to N1,241 per litre.

The downward adjustment in domestic fuel prices follows the Dangote Refinery’s decision to cut its petrol gantry price to N1,175 per litre, driven by a decline in global crude oil prices.

As of the time of filing this report, crude oil prices stood at approximately $76 per barrel for West Texas Intermediate (WTI) and $80 per barrel for Brent crude.

Meanwhile, global oil market dynamics remain uncertain. Despite reports of a peace deal involving United States President Donald Trump, Iran has again shut the Strait of Hormuz, contributing to a slight increase in oil prices as of Sunday morning.