Petrol station owners in Edo State have begun adjusting the pump price of premium motor spirit (PMS), commonly known as fuel, following recent developments in the downstream sector.
The adjustment comes about a week after industrialist Alhaji Aliko Dangote announced a reduction in the ex-depot price of petrol to N699 per litre.
Dangote had earlier said consumers would buy fuel at about N750 per litre from last Tuesday. However, checks as at press time showed that no filling station in Edo State was dispensing petrol at N750 per litre.
Before the announced reduction, pump prices in the state ranged between N895 and N940 per litre.
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A visit to several filling stations across Benin City showed that Raptor Filling Station along Sapele Road was selling petrol at N800 per litre.
Most other outlets dispensed fuel at prices ranging from N840 to N900 per litre.
Managers at many of the stations declined comment on the development.
Some operators said they were not part of the Dangote free fuel distribution initiative.
They explained that they were still dispensing old stock and had yet to lift petrol at the new ex-depot price of N699 per litre from the Dangote Refinery.
