Six depot owners in Nigeria have reduced petrol (PMS) prices as competition intensifies in the downstream oil sector.

The companies—Emadeb, First Royal, MENJ, Aiteo, Pinnacle, and Hyde—cut prices by varying margins. Emadeb dropped from N903 to N827 per litre, while First Royal moved from N828 to N826. Other adjustments include:

• MENJ: N827 → N826
• Aiteo: N826 → N825
• Pinnacle: N856 → N850
• Hyde: N869 → N868

According to Petroleumprice.ng, further price drops are expected as crude oil remains low at $65 per barrel, impacting production costs.

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