Petrol Prices Drop Again as Marketers Compete for Customers
By Aboki Forex —
Several filling stations across Nigeria have reduced the pump price of petrol to attract customers amid rising competition. A market survey in Abuja and surrounding areas on Thursday, June 11, 2026, showed that major marketers including TotalEnergies, Rainoil, Emedab, Empire Energy, and AA Rano cut prices to between N1,330 and N1,350 per litre.
The drop from previous prices above N1,360 per litre offers fresh relief to motorists and businesses facing high transportation and operating costs.
Competition Heats Up After Dangote Refinery Moves
The reduction comes as oil marketers respond to intense competition in the downstream sector. Last week, outlets like MRS, NNPC retail stations, and NIPCO had already reduced prices to between N1,317 and N1,335 per litre after changes in ex-depot pricing.
Industry observers say the latest moves are aimed at staying competitive as consumers search for cheaper fuel. The downward adjustment follows a reduction in gantry prices by the Dangote Refinery, which triggered a chain reaction across the fuel distribution market.
Market analysts believe the Dangote Refinery continues to shape pricing trends in Nigeria's fuel market despite volatility in the global oil sector. Since the refinery adopted aggressive pricing strategies, independent marketers and major retailers have been forced to review pump prices regularly to avoid losing customers.
Global Oil Instability Looms Over Local Prices
Speaking on the development, the spokesperson of the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike, said petrol prices could continue to fluctuate due to instability in the international oil market. He cited lingering tensions involving Iran, the United States, and Israel as major factors influencing global crude oil prices and local fuel costs.
As of the time of filing this report, Brent crude traded at $92.02 per barrel, while West Texas Intermediate stood at $89.11 per barrel. Experts warn that despite recent reductions, fuel prices may still face further adjustments depending on developments in the global energy market.
The growing competition among marketers is now creating frequent price changes nationwide, with consumers closely monitoring stations offering the cheapest rates.