Fuel prices have taken a significant dive in Lagos and Abuja, with petrol marketers slashing prices by as much as N100 per litre.
This welcome development comes as supply improves and more depots begin dispensing the product at cheaper rates.
In Lagos, prices have crashed from N900-N850 per litre to N700-N750 per litre, with some stations like MRS and Ardova Petrol leading the charge.
The price reduction is attributed to increased availability and instructions from higher authorities to adjust prices.
Similarly, in Abuja, prices have dropped from N1,000 to N900-N850 per litre, with NNPC Mega Station selling at N680 per litre.
The downward trend is expected to continue as fuel marketers laud President Tinubu’s directive to sell crude oil to refineries in naira, anticipating lower fuel prices nationwide.
This move is projected to save Nigeria approximately $7.39 billion from petrol imports, easing foreign exchange burdens and benefiting the economy.
As the market responds to improved supply and policy changes, consumers can expect further price reductions in the coming days.
Keyword Tags: Petrol prices, Lagos, Abuja, supply improvement, price crash, Tinubu’s directive, crude oil sales, naira transactions, fuel marketers, Nigeria, economy, savings.
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