The Nigerian National Petroleum Company Limited (NNPCL) has reduced the pump price of Premium Motor Spirit (PMS), commonly known as petrol, by N75 per litre, a week after Dangote Refinery lowered its ex-depot price.
A market survey conducted on Tuesday revealed that NNPCL retail outlets in Abuja and surrounding areas are now selling petrol at N1,260 per litre, down from the previous price of N1,335 per litre.
The new pricing has already taken effect at several NNPCL filling stations, including those located along the Kubwa Expressway, Wuse Zone 6 (Berger), and Zone 4 in Abuja.
The latest adjustment comes seven days after Dangote Refinery reduced its gantry price of petrol to N1,175 per litre on June 16. The refinery’s price cut sparked a downward trend in fuel prices across the country, driven largely by declining crude oil prices.
In recent days, several marketers have also reviewed their pump prices. Filling stations operated by MRS and other independent marketers have been selling petrol at prices ranging between N1,241 and N1,300 per litre in Abuja.
The reduction by NNPCL is expected to provide some relief to motorists and consumers grappling with high transportation and living costs.
