Fuel Price Update: Petrol Landing Cost Declines, Say Nigerian Marketers

Nigerian marketers have reported a decrease in the landing cost of petrol, which may lead to potential adjustments in pump prices. This development comes amid ongoing concerns over the recent surge in fuel prices, which has significantly impacted transportation costs and daily living expenses for Nigerians.

The Nigerian National Petroleum Company Limited (NNPCL) had previously raised the petrol pump price to approximately N897 per litre, causing widespread economic strain. However, the recent decline in landing costs could provide an opportunity for a price reduction, easing some of the financial burden on consumers.

Marketers are urging the government to consider these changes and adjust fuel prices accordingly to alleviate the hardships faced by citizens as they navigate rising costs associated with school resumption and other daily necessities.