New fuel prices predicted for June, July as filling stations adjusts pumps

• Several filling stations successful Lagos, Abuja, and different parts of Nigeria person made caller petrol terms adjustments
• The latest changes are linked to the appreciation of the naira against the US dollar, resulting successful greater stableness successful the overseas speech market
• Bismarck Rewane has predicted a further terms simplification successful June and July owed to the improved marketplace stability

Legit.ng writer Dave Ibemere has implicit a decennary of acquisition successful concern journalism, with in-depth cognition of the Nigerian economy, stocks, and wide marketplace trends.

Filling stations successful Nigeria are expected to little their prices successful June and July successful effect to shifting marketplace dynamics and a stronger naira.

Lower substance prices are expected successful June and July Photo credit: Bloomberg/contributor
Source: Getty Images

Already, large lipid marketers, including the Nigerian National Petroleum Company Limited (NNPCL) successful Lagos and Abuja, person made adjustments to their petrol prices arsenic portion of efforts to stay competitory and pull customers.

Filling stations reduced substance prices

Checks amusement that successful Abuja shows petrol pump prices person dropped by astatine slightest N10 per litre arsenic astatine Friday, June 6.

Major marketers specified arsenic Ranoil, Shafa, and AA Rano are present selling petrol astatine N900 per litre, down from N910.

While Retail outlets owned by the Nigerian National Petroleum Company Limited (NNPCL) and Dangote Refinery partners, including MRS, AP Ardova, Optima, and Bovas, are presently dispensing substance astatine betwixt N895 per litre successful Abuja.

In Lagos, NNPC substance stations is selling astatine N870 per litre, akin prices is seen astatine AP, Optima and different Dangote partners.

While Mobil, Matrix, Petrocam and different marketers are selling astatine N875 per litre,

Total Energies stations are offering substance to motorists astatine N873,

Bismark Rewane expects further petrol terms driblet successful June, July Photo credit: FDC
Source: Facebook

New substance prices are expected successful June and July.

The Financial Derivatives Company (FDC), led by economist Bismarck Rewane, has projected that the terms of Premium Motor Spirit (PMS) could driblet to N845 per litre, portion diesel whitethorn commercialized astatine astir N950 per litre successful its outlook for June and July.

The forecast follows a humble but dependable appreciation of the naira and increasing contention successful the downstream lipid sector.

Also, energy experts are projecting that some NNPCL and Dangote Refinery whitethorn denote different circular of terms reductions aft the Eid al-Adha celebration to support their competitory edge.

The adept remarked.

"With depot prices aligning intimately with Dangote Refinery's N825 per litre gantry price, there's optimism for further reductions."

Billy Gillis-Harry, the National President of Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), acknowledged the dynamics astatine play, noting that these reductions are indispensable for remaining competitory successful the home market.

He said:

"Importing petrol astatine competitory planetary rates necessitates these terms adjustments. Healthy contention benefits consumers and drives sectoral efficiency."

Dangote refinery imports much crude lipid from US

Earlier, Legit.ng reported that Dangote Petroluem Refinery has accrued its processing level and is uncovering it hard to root crude locally.

To adjacent the spread and conscionable its accumulation requirement, the refinery has decided to increase the import of US crude.

New information shows that Dangote refinery has sourced astir one-third of its crude from the US successful 2025.

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Source: Legit.ng