Nigeria, June 17 -- Many petrol marketers across Lagos, Abuja, Ogun and Oyo states have yet to adjust their pump prices despite Dangote Refinery's recent decision to reduce its ex gantry price by N75 per litre.



The refinery said that the wholesale price of Premium Motor Spirit would be cut from N1,250 to N1,175 per litre, therefore providing consumer relief. But checks at many gas stations revealed that less than 24 hours after the new price went into effect, petrol still costs between N1,280 and N1,380 per litre.



The News Chronicle reports that marketers mostly blame current stock bought at greater prices for the delay. Some operators claim that before showing the lower fuel costs, stations have to first use up their stock from ...