NNPCL reduces petrol price 48 hours after hike

Just two days after raising the pump price of Premium Motor Spirit (PMS), commonly known as petrol, the Nigerian National Petroleum Company Limited (NNPCL) has slashed prices at its retail stations.

As of Wednesday morning, several NNPCL outlets in Abuja including locations in Gwarinpa, Kubwa Expressway, Wuse Zone 6, and Wuse Zone 4  had adjusted their pump price from N955 to N900 per litre.

A fuel attendant at one of the stations, speaking anonymously to Daily Post, confirmed the change: “On Tuesday, we sold fuel at N955 per litre, but it is now N900.”

This marks a N55 per litre drop from the rate announced earlier in the week.

Some independent marketers have also revised their prices, though less significantly. For example, Ranoil and Empire Energy stations in Gwarinpa now dispense petrol at N955 and N950 per litre respectively, down from N971 and N970.

Meanwhile, MRS stations have retained their earlier pump price of N885 per litre.

The recent price increase had been linked to rising ex-depot rates, especially from Dangote Refinery and other private depots.

Although NNPCL has begun lowering its prices, it is still uncertain whether this will prompt a wider adjustment across the country.

Consumers continue to lament the inconsistent pricing of petrol, which has worsened transportation costs and overall living expenses.