Fuel prices across Nigeria are expected to drop soon as independent petrol marketers prepare to adjust their rates in response to a fresh price cut by Dangote Refinery.

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has indicated that its members will lower the cost of petrol starting next week. This comes after Dangote Refinery reduced its ex-depot price of petrol from ₦840 to ₦820 per litre on Thursday.

In a chat with Daily Post, IPMAN’s National President, Abubakar Maigandi, confirmed that the association would hold a meeting on Monday to finalize the new prices. He emphasized that marketers are ready to follow the refinery’s lead in bringing down fuel costs.

“Whether the drop is from Dangote or elsewhere, our members will respond. A new price will be announced after our meeting on Monday,” Maigandi said.

As of Friday, petrol was being sold between ₦905 and ₦945 per litre in Abuja. NNPCL, NIPCO, Shema, and AA Rano stations were selling at ₦910, while MRS, AP Ardova, and stations linked to Dangote were offering prices as low as ₦905.

Meanwhile, outlets like Ranoil, Empire Energy, and Total Emadeb were selling at higher rates, between ₦920 and ₦945.

With the expected adjustments, consumers may soon enjoy lower pump prices, especially if more marketers adopt the reduced rates.