Some filling stations in Abuja have reduced the price of petrol as competition among marketers continues to shape fuel costs in the capital.

Checks across several stations on Friday showed that the pump price dropped from about N1,330 per litre to around N1,295, representing a reduction of roughly N35.

The adjustment was observed at outlets such as AA Rano, Ranoil, and Mobil in different parts of Abuja. Other major marketers, including the Nigerian National Petroleum Company Limited, MRS, AP Ardova, and NIPCO, were also dispensing petrol within the N1,290 to N1,295 range.

The Independent Petroleum Marketers Association of Nigeria explained that the latest price cuts are mainly aimed at attracting more customers in a highly competitive market.
According to the association’s president, Abubakar Maigandi, the move is part of normal market strategy to improve sales and patronage.

Despite global pressure on crude oil prices, fuel costs in Nigeria have remained relatively steady since early April. This stability has continued even with fluctuations in the international oil market linked to geopolitical tensions involving the United States and Iran.

At the global level, crude oil benchmarks showed mixed movement, with West Texas Intermediate trading around $94 per barrel while Brent crude stood at about $105 per barrel, influenced by concerns over supply routes such as the Strait of Hormuz.