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The Nigerian National Petroleum Company Limited has lowered its premium motor spirit pump price following a reduction in ex-depot prices by Dangote Refinery and depot owners.
A DAILY POST correspondent who surveyed filling stations in Abuja on Thursday found that the state-owned company has decreased its fuel price to N930 per litre, down from N945.
This price reduction has been applied at NNPCL retail outlets located on Kubwa Expressway, Gwarimpa, Wuse Zone 4, Zone 6, and other filling stations within Abuja and its surroundings.
This adjustment indicates that NNPCL has lowered its fuel retail price by N10 per litre.
Additionally, DAILY POST noticed that other filling stations in Nigeria, such as Ranoil in Gwarimpa, have also cut fuel pump prices by N5, bringing them down to N935 per litre from N940.
Likewise, MRS and AP Ardova filling stations in Abuja are currently selling petrol for prices ranging between N930 and N935.
This change comes after Dangote Refinery and depot owners, including Pinnacle and Aiteo, reduced ex-depot prices by at least N10 to N846, N845, and N844 per litre, respectively, as of Thursday morning.
Earlier, Chinedu Ukadike, the spokesperson for the Independent Petroleum Marketers Association of Nigeria (IPMAN), informed DAILY POST that fuel prices may continue to decline as the ongoing petrol price competition escalates.
Frequently Asked Questions
What is the new fuel price set by NNPCL?
The new fuel price set by NNPCL is N930 per litre, down from N945.
How much have other filling stations reduced their prices?
Other filling stations, such as Ranoil, have reduced their prices by N5, now selling petrol for N935 per litre.
Why have fuel prices decreased?
Fuel prices have decreased due to a reduction in ex-depot prices by Dangote Refinery and depot owners.
Is there a possibility of further price drops?
Yes, according to IPMAN spokesperson Chinedu Ukadike, fuel prices may drop further as the ongoing competition intensifies.
Eze Chidiebere Paul
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