NNPCL reduces petrol price to N910 per litre in Abuja

|By Adejumo Adekunle-

-Price cut follows Dangote Refinery’s move amid falling crude prices
-Independent marketers join in slashing pump prices nationwide

The Nigerian National Petroleum Company Limited (NNPCL) has cut the pump price of premium motor spirit (PMS) at its retail stations across Abuja, bringing it down to N910 per litre from the previous N945.

The new price adjustment was observed on Saturday at several NNPCL filling stations located in areas such as Zone 6, Kubwa Expressway, and Wuse Zone 4. The N30 reduction in price is seen as a significant move to cushion the effects of rising living costs.

This development comes on the heels of Dangote Refinery’s recent slash of its ex-depot petrol price, reducing it from N880 to N840 per litre, in response to falling global crude oil prices. The refinery’s decision appears to have triggered a ripple effect across the downstream petroleum market.

Following suit, members of the Independent Petroleum Marketers Association of Nigeria (IPMAN) also dropped their pump prices. In Abuja, petrol is now selling between N930 and N940 per litre, down from the earlier N945 to N975 range. Lagos residents are also seeing relief, as pump prices fell to N890 per litre from N925.

The recent adjustments reflect market sensitivity to international oil price fluctuations and a competitive push to retain customer loyalty in the face of economic pressure.