BREAKING: Again, NNPC slashes petrol price to N860 per litre

The Nigerian National Petroleum Company Limited (NNPCL) has announced a reduction in the pump price of Premium Motor Spirit (PMS), commonly known as petrol, to N860 per litre, effective Monday.

This adjustment comes amid growing competition among oil marketers and independent petroleum dealers, as well as fluctuations in global crude oil prices. The new price represents a notable decrease from the previous average of N920 per litre.

The price cut follows a similar move by Dangote Petroleum Refinery, which recently reduced its ex-depot price of petrol from N890 per litre to N825 per litre—its second price slash in February.

In a public notice regarding the latest reduction, NNPCL highlighted three Lagos-based filling stations—MRS (N860 per litre), AP (N865 per litre), and Heyden (N865 per litre)—as its partner off-takers.