Petrol prices at filling stations across the Federal Capital Territory (FCT) may drop in the coming days as independent marketers prepare to adjust their pump prices following the arrival of new petroleum products.
The National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Chinedu Ukadike, disclosed this in an interview with the News Agency of Nigeria (NAN) on Thursday in Abuja.
Ukadike said marketers were reviewing their pricing and sales strategies ahead of the arrival of the products, adding that the development could trigger fresh changes in the downstream petroleum market.
He said marketers would adjust their prices and product offerings in line with prevailing market conditions and existing regulations.
“Once the new products begin arriving, marketers are expected to respond quickly by reviewing their prices and updating their product offerings,” he said.
Ukadike said marketers could begin purchasing the products within the next few days, depending on when the process officially commences.
He added that filling stations would adjust their pump prices once they started receiving the new products.
The development comes amid recent increases in the ex-depot price of petrol by the Dangote Refinery.
According to NAN, the refinery raised its gantry price from N1,165 per liter to N1,185, before further increasing it to N1,200 and N1,265 within one week.
The increases have pushed up petrol prices at several filling stations across the FCT, triggering concerns among motorists.
Many motorists have called on the Federal Government to intervene and stabilize petrol prices amid the rising cost of fuel.
