Petrol prices have dropped to as low as N1,120 per litre in Ilorin, Kwara State, as competition among petroleum marketers intensifies, forcing filling stations to adopt varying pump prices to attract customers.

A market survey conducted on Tuesday showed that Premium Motor Spirit (PMS) was sold between N1,120 and N1,175 per litre across major filling stations in the state capital.

Lukas, Abanik, Okin Oloje and Olak offered petrol at N1,120 per litre, while NNPC Retail sold at N1,125. AM Shafa dispensed the product at N1,145, AP at N1,155, while Bovas and Orange maintained N1,160.

MRS sold at N1,171, Eternal at N1,170, while Atgris recorded the highest pump price of N1,175 per litre.

The lower prices attracted long queues at some filling stations, particularly Abanik, where motorists and commercial drivers turned out in large numbers to buy fuel.

Many consumers, however, said the reduction was not enough, arguing that petrol prices should fall further in line with the decline in global crude oil prices.

The price cuts come amid increasing pressure on marketers and the Dangote Refinery to reduce pump prices following the recent drop in international oil prices.

On Monday, the Federal Government met with stakeholders in the downstream petroleum sector and called for lower ex-gantry prices. Minister of State for Petroleum (Oil), Senator Heineken Lokpobiri, also directed the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to strengthen market surveillance and ensure that lower supply costs are reflected in ex-depot and retail pump prices. Visit www.jocomms.com for more news.