The Nigerian National Petroleum Company Limited (NNPCL) has announced a reduction in the pump price of Premium Motor Spirit (PMS), commonly known as petrol, at its retail outlets.
As of Saturday, NNPCL filling stations across Abuja, including locations such as Zone 6, Kubwa Expressway, and Wuse Zone 4, adjusted their petrol prices downward from ₦945 to ₦910 per litre—reflecting a ₦35 reduction.
This price adjustment follows closely on the heels of a similar move by Dangote Refinery, which recently slashed its petrol ex-depot price from ₦880 to ₦840 per litre, citing a decline in global crude oil prices.
Independent petroleum marketers have also begun implementing price reductions. In Abuja, pump prices now range between ₦930 and ₦940 per litre, down from previous rates of ₦945 to ₦975. In Lagos, prices have dropped from ₦925 to as low as ₦890 per litre.
The coordinated downward trend in fuel prices across various suppliers reflects evolving market dynamics and a response to global oil price fluctuations, offering some relief to Nigerian consumers amid ongoing economic challenges.
