By: Peace Udugba:
Just four days after Dangote Refinery announced a reduction in its petrol ex-depot price from N880 to N840 per litre, the Nigerian National Petroleum Company Limited (NNPCL) has also lowered its pump price for premium motor spirit (PMS).
Reports on Saturday revealed that several NNPCL outlets in Abuja adjusted their pump price from N945 to N910 per litre, reflecting a N35 price drop.
This development was observed at NNPCL stations located in Zone 6 along Kubwa Expressway, Wuse Zone 4, and other parts of the capital.
Similarly, members of the Independent Petroleum Marketers Association (IPMAN) reduced their prices, now selling between N930 and N940 per litre in Abuja—down from N945 and N975. In Lagos, prices fell to N890 from N925.
The price cuts follow Dangote Refinery’s recent adjustment, which was attributed to falling global crude oil prices.
