{"id":58350,"date":"2024-12-23T15:33:51","date_gmt":"2024-12-23T15:33:51","guid":{"rendered":"https:\/\/abujacityjournal.com\/livenews\/?p=58350"},"modified":"2024-12-23T15:33:51","modified_gmt":"2024-12-23T15:33:51","slug":"petrol-price-to-drop-to-n935-per-litre-nationwide-starting-monday","status":"publish","type":"post","link":"https:\/\/abujacityjournal.com\/livenews\/2024\/12\/23\/petrol-price-to-drop-to-n935-per-litre-nationwide-starting-monday\/","title":{"rendered":"Petrol Price to Drop to N935 Per Litre Nationwide Starting Monday"},"content":{"rendered":"<p><strong>By Gabriella Ogbu<\/strong><\/p>\n<p>The Independent Petroleum Marketers Association of Nigeria (IPMAN), has announced that petrol will sell at N935 per litre nationwide starting Monday, December 23, 2024.<\/p>\n<p>The new price follows a reduction in the ex-depot price at Dangote Refinery to N899.50 per litre, with an additional N36 per litre for logistics.<\/p>\n<p>IPMAN\u2019s National President, Maigandi Garima, confirmed that this pricing structure will standardize fuel costs across the country.<\/p>\n<p>He revealed that over 30,000 marketers are prepared to load petrol from Dangote Refinery and the Port Harcourt Refining Company in response to the price adjustment.<\/p>\n<p>This move comes after petrol prices in Lagos stations ranged from N950 to over N1,000 per litre, with full compliance expected nationwide by Monday.<\/p>\n<p>The price reduction results from intense competition between Dangote Refinery and the Nigerian National Petroleum Corporation Limited (NNPCL), both of which have recently slashed prices to attract buyers.<\/p>\n<p>Chinedu Ukadike, IPMAN\u2019s National Publicity Officer, noted that this rivalry benefits consumers by lowering costs and ensuring greater transparency in pricing.<\/p>\n<p>Retail outlet owners under PETROAN have also begun aligning with the new pricing regime, ensuring a smooth transition in the sector.<\/p>\n<p>IPMAN and PETROAN hinted that further price reductions are likely as competition deepens in the deregulated market, with consumers expected to benefit from ongoing adjustments.<\/p>\n<p>PETROAN President Billy Gillis-Harry explained that the evolving pricing reflects production and logistics costs, fostering long-term market stability.<\/p>\n<p>Meanwhile, Dangote Refinery is operating at 85 percent capacity, processing 550,000 barrels per day, and plans to achieve full capacity of 650,000 barrels once crude supply stabilizes.<\/p>\n<p>The refinery is expected to deliver European-standard fuel by January 2025, improving supply and stabilizing prices in the Nigerian petroleum sector.<\/p>\n<p>Marketers have assured Nigerians that petrol will remain available throughout the festive season, avoiding artificial scarcity.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Gabriella Ogbu The Independent Petroleum Marketers Association of Nigeria (IPMAN), has announced that petrol will sell at N935 per litre nationwide starting Monday, December 23, 2024. The new price follows a reduction in the ex-depot price at Dangote Refinery to N899.50 per litre, with an additional N36 per litre for logistics. IPMAN\u2019s National President, [&hellip;]<\/p>\n","protected":false},"author":32,"featured_media":58351,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[172],"tags":[],"class_list":["post-58350","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/58350","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=58350"}],"version-history":[{"count":1,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/58350\/revisions"}],"predecessor-version":[{"id":58352,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/58350\/revisions\/58352"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/58351"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=58350"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=58350"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=58350"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}