NNPC has announced fresh petrol price reduction.
NewsOnline Nigeria reports that the Nigerian National Petroleum Company Limited (NNPCL) has reduced the pump price of Premium Motor Spirit, popularly known as petrol, at selected retail outlets in Abuja.
A market survey conducted by Daily Post on Tuesday showed that NNPC outlets in Gwarimpa, along the Kubwa Expressway, Wuse Zone 4 and Wuse Zone 6 were selling petrol at ₦1,250 per litre.
The new price represents a reduction of ₦49 from the previous pump price of ₦1,299 per litre.
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The adjustment follows reports that some motorists were avoiding NNPC retail outlets because their petrol prices were higher than those charged by competing marketers.
Before the latest reduction, MRS and several other filling stations had lowered their pump prices by between ₦25 and ₦50 per litre.
MRS distributes petroleum products supplied by the Dangote Petroleum Refinery, whose pricing decisions have increasingly influenced competition in Nigeria’s downstream market.
Following the latest adjustments, petrol is selling for between approximately ₦1,210 and ₦1,300 per litre across Abuja and its surrounding areas, depending on the marketer and location.
The price observed at selected Abuja outlets may not apply uniformly across all NNPC stations nationwide because petrol prices can vary by city, supply costs and market conditions.
The reduction is expected to provide some relief to motorists amid the high cost of transportation and other essential goods.
Consumers are advised to confirm the displayed pump price at individual filling stations before purchasing petrol.
