NNPC reportedly crashes fuel price to ₦580 per litre, firm reacts

NNPC filling stations across Nigeria have reportedly crashed the price of Premium Motor Spirit, PMS, otherwise known as petrol, to N580 per litre.

The development has sparked excitement among users of the product.

Before now, a litre of petrol was selling between N660-N690 per litre.

However, findings by IDOMA VOICE have shown that NNPC stations are now selling between N670 – N680 per litre across the nation.

Checks by this newspaper have also shown that there are noticeable queues at many NNPC stations in Abuja.

Meanwhile, petroleum product marketers and other operators in the downstream sector have refuted speculations suggesting a downward adjustment in the pump price of petrol at depot facilities.

Reports from LEADERSHIP indicate that petroleum outlets are continuing to sell at prevailing market prices, without any noticeable changes.

NNPC reacts

The NNPC Limited has clarified rumours suggesting a price adjustment for Premium Motor Spirit (PMS) and Automotive Gas Oil (Diesel) at its retail stations nationwide.

The company asserted that these reports are false and urges Nigerians to disregard them entirely.

Olufemi Soneye, the Chief Corporate Communications Officer NNPC Ltd in a statement on Wednesday, says NNPCL, “reaffirms its commitment to sustaining the current sufficiency in petroleum products supply across all its retail stations in the country.”