Filling stations in Nigeria, including MRS, AA Rano, and NIPCO, have decreased petrol prices following a reduction in the ex-depot price by Dangote Refinery to N1,075 per litre. This price cut has provided relief to consumers across the country.

According to Nairametrics, the average retail price of Premium Motor Spirit, or petrol, increased by 55.31% year-on-year, reaching N1,596.25 per litre in May 2026.

Dangote Refinery has announced a reduction in the price of Premium Motor Spirit (PMS) by N200 per litre within a month, indicating that the refinery has absorbed the recent surge in global oil prices. This marks another instance of price cuts from the refinery, suggesting a trend towards further moderation in fuel prices, according to Premium Times Business.

Depot prices for Premium Motor Spirit (PMS), or petrol, have decreased across various terminals in Lagos, with Rain Oil leading the reduction by cutting prices by N18 per litre. Additionally, diesel prices have also seen a significant drop, falling by up to N70 per litre. This adjustment in prices comes as petroleum marketers respond to changing supply dynamics in Nigeria's downstream oil market, according to Vanguard Business.

Global oil prices have decreased to levels not seen since before the US-Iran war, leading to expectations for lower petrol prices, according to Daily Trust. Despite this drop, fuel prices in Nigeria continue to exceed N1,000, raising concerns about the slow transmission of global market changes to local consumers and businesses.

The prices of liquefied petroleum gas, or cooking gas, have decreased in various regions of Nigeria following a period of increase attributed to supply constraints. Retail outlets in Abuja reported a drop in prices, with costs falling between N1450 and N1500 per kilogram, down from N1700 at AA Shafa and Ranoil in Dutse.