Federal government says fuel prices will keep falling

The Nigerian Federal Government has announced that prices of petrol, diesel, and LPG will continue to decline. This statement comes amid ongoing economic adjustments in the energy sector.

The Federal Government of Nigeria (FG) has indicated that prices for petrol, diesel, and liquefied petroleum gas (LPG) are expected to keep falling. This assurance was highlighted in a recent update from government sources. While specific reasons or timelines were not detailed in the available information, the projection points to a positive trend for consumers facing fuel costs. Other headlines from the same publication mention unrelated developments, such as security operations and economic initiatives in the southeast, but the focus remains on the fuel price outlook.

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Photorealistic image of a Colombian gas station displaying a 300-peso gasoline price cut, with joyful customers celebrating the government's announcement.
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Government announces 300-peso gasoline price cut starting February 1

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Building on Minister Palma's recent confirmation of progress, the Colombian government will reduce regular gasoline by 300 pesos per gallon from February 1, 2026. Finance Minister Germán Ávila confirmed the move closes the Fuel Prices Stabilization Fund (FEPC) gap with international prices, easing consumer costs.

Petrol prices have reached N1,400 per litre across Nigeria, according to a Daily Trust report. This development is said to be deepening the woes of Nigerians. The article features contributions from correspondents in multiple cities.

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Motorists can expect fuel prices to increase next week amid geopolitical issues that may disrupt supply. Jetti Petroleum Inc. president Leo Bellas said gasoline prices are expected to be steady or increase by P0.10 per liter, while diesel prices are likely to go up by P0.30 to P0.50 per liter. The Department of Energy said kerosene prices are also expected to rise by P0.10 per liter.

As predicted last week, gasoline prices have increased by P0.20 per liter for the third straight week, while diesel and kerosene see a P0.20 per liter rollback effective today.

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Diesel prices are expected to rise further next week amid geopolitical risks threatening global oil supplies. Jetti Petroleum president Leo Bellas indicated a potential hike of P0.20 to P0.40 per liter for diesel, while gasoline could adjust by P0.10 per liter up or down.

Fuel prices in the Philippines are set to surge next week due to escalating tensions in the Middle East, according to the Department of Energy. Minimum increases are estimated at P19 per liter for diesel, P9 for gasoline, and P31 for kerosene, though diesel could reach P90 per liter without staggered hikes. The DOE has warned against hoarding and price manipulation.

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South Africa's Fuels Industry Association states that fuel supplies are stable but tight, especially for diesel, ahead of price increases on 1 April 2026. President Cyril Ramaphosa said he and Finance Minister Enoch Godongwana are concerned about the situation. Taxi operators and consumers warn of impacts from hikes exceeding R5 per litre for petrol and nearly R10 for diesel.

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Motorists rush on last day of capped fuel prices

Jumatatu, 9. Mwezi wa pili 2026, 09:44:44

Diesel and gas prices rise again today

Jumapili, 8. Mwezi wa pili 2026, 11:15:11

Seventh straight diesel price hike since start of 2026

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Oil prices sustain rally above 2026 budget, boost naira

Jumamosi, 31. Mwezi wa kwanza 2026, 18:26:41

Ethiopian government to fully lift fuel subsidies by February 2026

Jumamosi, 31. Mwezi wa kwanza 2026, 01:13:47

Gasoline price to drop $500 starting February

Ijumaa, 16. Mwezi wa kwanza 2026, 21:58:24

Minister Palma confirms progress on gradual gasoline price adjustment

Jumatatu, 5. Mwezi wa kwanza 2026, 12:29:10

Diesel and kerosene prices rise; gasoline rollback today

Jumamosi, 20. Mwezi wa kumi na mbili 2025, 12:21:16

Larger fuel price rollbacks expected ahead of Christmas

Jumamosi, 13. Mwezi wa kumi na mbili 2025, 00:41:51

Diesel price rollback expected next week

 

 

 

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