NNPC reduces petrol price

The Nigerian National Petroleum Company Limited (NNPC) has reduced the pump price of Premium Motor Spirit (PMS), commonly known as petrol, to 935 Naira per litre at some of its retail outlets in Abuja.

The adjustment was observed across several filling stations in the Federal Capital Territory over the weekend.

This development comes shortly after Dangote Refinery announced a reduction in its ex-depot petrol price from N865 to N835 per litre.

The 650,000-barrel-per-day refinery stated that its distribution partners, including MRS and AP filling stations, are expected to sell petrol at retail prices ranging from N890 to N920 per litre, depending on location.

The new pricing is expected to provide some relief to motorists and reduce transportation costs as the country continues to grapple with high fuel prices.

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