Petrol pump prices across the Federal Capital Territory (FCT) are expected to drop in the coming days, the Independent Petroleum Marketers Association of Nigeria (IPMAN) has said.
IPMAN’s National Publicity Secretary, Chinedu Ukadike, disclosed this in an interview with the News Agency of Nigeria (NAN) on Thursday in Abuja, saying marketers are preparing to adjust pricing once new products enter the market.
Ukadike said the influx of new supply would trigger changes across the market, with marketers expected to review prices swiftly and update their offerings to keep products available to consumers.
He noted that a definite date for the new products’ arrival had not been fixed, but stressed that the adjustment process would follow existing rules and regulations once it commences.
“Once the new products begin arriving, marketers are expected to respond quickly by reviewing their prices and updating their product offerings,” he said, adding that purchases could begin “in a few days,” depending on when the process officially starts.
He said the development would further reshape the market as filling stations revise prices and roll out the new products to consumers.
NAN reports that the Dangote Refinery has raised its gantry (ex-depot) price steadily over the past week — from N1,165 per litre to N1,185, then to N1,200, and most recently N1,265. The increases have already filtered down to pump prices at filling stations across the FCT, sparking concern among motorists who are calling on the Federal Government to urgently stabilise fuel prices.
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