Marketers retain high petrol price despite reduction at Dangote Refinery

Fuel marketers in Abuja continue to sell petrol at old prices more than 24 hours after Dangote Refinery announced a N75 per litre reduction. Stations such as NNPC, TotalEnergies, AA Rano, AYM Shafa, and Conoil are charging between N1,330 and N1,350 per litre. PETROAN President Dr. Billy Gillis-Harry explained that retail prices depend on factors like availability, logistics costs, and existing stock. He noted that price cuts take longer because marketers need to sell off stock purchased at higher prices before restocking at lower rates.