Bismarck Rewane, Managing Director of Financial Derivatives Company Limited, has projected a continued decline in the cost of premium motor spirit (PMS), commonly known as petrol, until June 2025.
Recent reductions in pump prices by Dangote Refinery and the Nigerian National Petroleum Company Limited (NNPCL) have brought relief to millions of Nigerians who rely on petrol for their daily energy needs. However, Rewane anticipates further price drops in the coming months.
“So, generally between now and June, we will see prices begin to decline. But after June, as things stabilize, depending on what happens in the global oil and currency market, we might begin to see some stabilization,” Rewane stated during Tuesday’s edition of Channels Television’s Business Morning.
Meanwhile, Dangote Refinery has announced new petrol prices at MRS Holdings stations: ₦860 per litre in Lagos, ₦870 per litre in the South-West, ₦880 per litre in the North, and ₦890 per litre in the South-South and South-East regions.
Similarly, AP (Ardova Petroleum) and Heyden stations have adjusted their prices to ₦865 per litre in Lagos, ₦875 per litre in the South-West, ₦885 per litre in the North, and ₦895 per litre in the South-South and South-East.
In a related development, NNPCL reduced its pump price to ₦860 per litre across its stations in Lagos on Monday, although an official statement is yet to be issued.
