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.

Petrol depots in Lagos and Port Harcourt have released new Premium Motor Spirit prices, leading to changes in fuel costs across Nigeria, according to Legit.ng. The report indicates that while some suppliers raised their rates, others reduced prices or kept them unchanged. The mixed adjustments reflect ongoing volatility in the downstream petroleum sector, with the new depot rates expected to influence pump prices paid by consumers nationwide.

Nigerian motorists could see cheaper petrol once the country's domestic refining industry becomes stronger, more competitive and financially sustainable, according to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). Petrol currently sells at about N1,310 to N1,350 per litre in many parts of Nigeria, after prices rose from previous levels. The regulator's comments link future fuel affordability to the growth and viability of local refining capacity.

Despite a significant drop in crude oil prices to $73 per barrel, petrol prices in Nigeria continue to remain high, with consumers hoping for a reduction below N1,000 per litre.

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.

Despite a decline in global oil prices to levels seen before the US-Iran conflict, petrol prices in Nigeria remain high, leading to rising expectations among the public for a decrease in local fuel costs, according to Naija News.