The NNPCL petrol price has dropped from N1,395 to N1,370 per litre at some outlets in Abuja and its environs. The Nigerian National Petroleum Company Limited (NNPCL) cut the price by N25 per litre.
A market survey on Wednesday morning found that several NNPCL filling stations had already adjusted their pump prices.
The new NNPCL petrol price was observed at outlets in Wuse Zone 6, Wuse Zone 4 and Air Junction in Abuja.
The reduction means motorists buying petrol from the affected NNPCL stations will now pay N1,370 for each litre, compared with the previous price of N1,395.
The N25 reduction represents a direct decrease in the cost of petrol at the affected outlets. However, pump prices can vary between locations and filling stations.
The latest adjustment comes amid continued changes in petrol prices across Nigeria. Retail prices often respond to movements in supply costs, distribution expenses and market conditions.
For motorists in Abuja, the reduction could lower the immediate cost of refuelling vehicles. However, the effect on transport fares and the prices of goods and services will depend on how widely the new price spreads across the market.
The NNPCL petrol price remains an important reference point for consumers because NNPCL operates a large network of filling stations across the country.
Meanwhile, motorists are expected to monitor prices at individual stations, as different outlets may adjust their prices at different times.
The latest reduction also highlights the changing nature of Nigeria’s downstream petroleum market following the removal of petrol subsidy and increased market-based pricing.
For now, the N1,370 per litre price applies to the NNPCL outlets where the adjustment has been confirmed in Abuja and surrounding areas.
Further changes could depend on developments in the petroleum market, including supply conditions and the cost of bringing petrol to different parts of the country.
