Petrol prices across Lagos have remained elevated, with MRS stations and independent outlets yet to reflect the ₦75 per litre reduction announced by Dangote Petroleum Refinery. The development points to a lag in price transmission within Nigeria’s downstream sector.
Checks by Petroleumprice.ng shows that in Shomolu and Ikotun axis filling stations pump prices still ranged between ₦1,310 and ₦1,330 per litre. Heyden station on Apata Road and Mobil on Sanusi Road both sold at ₦1,330, while an NNPCL outlet at Ikotun Roundabout dispensed at ₦1,310 per litre, MRS stations in the area maintained similar levels, with ₦1,310 recorded at Igandu Bus Stop and ₦1,320 along Igandu–Ikotun Road, keeping prices above the expected range following the refinery’s adjustment.
The slow response reflects familiar market dynamics, where price reductions take longer to filter through due to existing stock purchased at higher costs, logistics expenses, and margin considerations.
It also suggests a cautious stance among retailers, many of whom appear to be factoring in global oil price volatility and exchange rate uncertainties before adjusting pump prices downward.
If lower depot prices persist, competitive pressure is expected to drive adjustments at the retail level. Until then, consumers may continue to face limited relief despite changes at the supply end.