The Independent Petroleum Marketers Association of Nigeria (IPMAN) has announced that petrol will be sold at ₦935 per litre starting Monday (today), following a new arrangement with the Dangote Petroleum Refinery.
According to IPMAN’s National President, Maigandi Garima, the reduction in the ex-depot price of petrol by Dangote Refinery and the uniform pricing system will allow marketers to sell at ₦935 at their outlets nationwide, with an additional N36 cost for logistics.
The new arrangement includes a fixed ex-depot price of ₦899.50. This pricing adjustment is expected to streamline petrol distribution and provide a more consistent fuel supply across the country. The move comes as part of efforts to stabilize fuel prices and ensure that consumers benefit from a uniform rate at filling stations nationwide.
“The refinery is running a programme whereby it wants the fuel consumption across the country to be at the same rate. We are expecting the new arrangement to kick-start on Monday. Previously, the loading price was N970 per litre, but from Monday, petrol prices will drop to N935,” Garima stated.
The association also stated that over 30,000 of its members are set to commence petrol loading from the Dangote Petroleum Refinery and the Port Harcourt Refining Company following the reduction of the ex-depot price of the product to N899 per litre.
This came as it was observed that the pump price of petrol dropped on Sunday to between N950 and N980 per litre in a few filling stations in Lagos including MRS, BOVAS and NNPC. However, the cost was above N1,000 per litre in many other outlets in the state.
But IPMAN promised on Sunday that the price would drop further, as it said the cost of petrol would reduce to N935 per litre in more filling stations by Monday (today) in view of Dangote refinery’s new arrangement.
