Motorists have begun shifting patronage away from Nigerian National Petroleum Company Limited (NNPCL) filling stations and other outlets selling petrol at higher prices, following fresh price reductions by some independent marketers in Abuja.
Filling station attendants disclosed this on Monday, attributing the sharp decline in patronage at some outlets to the widening difference in petrol prices across filling stations.
An attendant at an NNPCL filling station in Abuja, who spoke on condition of anonymity, said motorists had significantly reduced patronage at the station by Monday afternoon because of the higher pump price.
The development followed price reductions by MRS, AA Rano, Sharon and other filling stations across Abuja.
MRS reduced its petrol price by N50, bringing the cost down from N1,260 to N1,210 per litre in Abuja and its environs. The latest adjustment represents the company’s second price reduction in less than two weeks.
AA Rano, Sharon and other filling stations also cut their petrol prices by N25 per litre.
The revised prices were implemented along the Kubwa Expressway, Abuja, and other parts of the Federal Capital Territory on Monday.
The latest reductions by MRS and other marketers come against the backdrop of Dangote Refinery’s petrol price cut to N1,165 per litre.
Despite the downward movement in prices among some marketers, NNPCL retail outlets and other filling stations have retained higher pump prices, with petrol selling between N1,299 and N1,310 per litre.
The higher prices were observed at NNPCL filling stations in Gwarinpa, Wuse Zones 4 and 6, other parts of Abuja and its environs as of the time of filing this report.
A filling station attendant at an NNPCL outlet said the price disparity had directly affected sales, with motorists opting for cheaper alternatives.
“I have hardly sold petrol to four or 10 persons since today. Our customers are complaining about the high fuel price.
“I hope the petrol price will reduce from tomorrow (Tuesday),” the attendant, who preferred anonymity, said.
Two other filling station attendants at Shema and Emedab also reported low patronage on Monday, linking the development to the higher petrol price at their outlets.
Efforts to obtain a response from NNPCL spokesperson, Andy Odeh, were unsuccessful as of the time of filing this report.
Meanwhile, Dangote Refinery trucks were sighted at several retail outlets in Abuja.
The spokesperson of the Independent Petroleum Marketers Association of Nigeria, Chinedu, said NNPCL and other members might not have received or stocked products from Dangote Refinery.
The development has intensified concerns within Nigeria’s downstream oil and gas sector as filling stations increasingly adjust pump prices in response to movements in the cost of petrol.
Petrol depot owners have also reduced their fuel prices to at least N1,168 per litre.
Meanwhile, crude oil prices on Monday stood at about $87 per barrel for Brent crude and $82 per barrel for West Texas Intermediate (WTI).
Leave feedback about this