Petrol depot prices drop as marketers slash rates by up to N23/litre

Petrol depot prices have declined across major supply centers in Nigeria, with marketers implementing price cuts of up to N23 per liter. The reductions, observed in locations including Lagos, Warri, Calabar, and Port Harcourt, are being attributed to increased competition within the downstream petroleum market.

In a separate development, Pakistan has transitioned to a daily fuel pricing system intended to align domestic costs more closely with global oil market trends. While the policy is designed to provide rapid adjustments, economic experts have expressed concern that the frequency of these price revisions may contribute to broader inflationary challenges for households, farmers, and businesses.