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Dangote: Fuel price update in Nigeria amid global oil market swings

Retail fuel prices across Nigeria have remained largely unchanged over the past week, despite ongoing volatility in the global crude oil market.

A market survey by Dasleeknews shows that petrol prices ranged between N1,290 and N1,370 per liter at filling stations nationwide.

This pricing trend was observed at outlets operated by the Nigerian National Petroleum Company Limited, as well as independent marketers including MRS, NIPCO, Ranoil, AA Rano, Total, Emedab, and Bovas across Abuja, Niger, Kogi, and Lagos States.

The ‘temporary’ stability in domestic fuel prices comes amid turbulence in the international oil market in the past six weeks, triggered by tensions linked to the Iran-United States conflict in the Middle East.
As of Thursday morning, global oil benchmarks, including Brent crude and West Texas Intermediate, rebounded by about three percent to $96 and $97 per barrel, respectively.

This followed a sharp 14 percent drop the previous day after reports of a temporary ceasefire agreement between the United States and Iran.


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