In a positive development for consumers, the landing cost of petrol in Nigeria has decreased from N981 per litre recorded on September 25, 2024, to N945.63 per litre as of September 27, 2024. This reduction was confirmed by the Major Energies Marketers Association of Nigeria (MEMAN) in a data release on Monday.

The decline in petrol prices comes amidst ongoing discussions about fuel pricing and its impact on the economy. Experts believe this drop may provide some relief to consumers who have faced rising costs in recent months.

The recent price adjustment is seen as a response to fluctuations in global oil prices and improvements in local supply chains. Stakeholders in the energy sector are optimistic that continued monitoring and adjustments could lead to further reductions in fuel prices, benefiting both consumers and businesses alike.

As the government and industry leaders work towards stabilizing the energy sector, this latest decrease offers a glimmer of hope for many Nigerians grappling with the high cost of living.