The Nigerian National Petroleum Company Limited (NNPCL) has lowered its premium motor spirit (PMS) pump price after Dangote Refinery and several depot operators reduced their ex-depot rates. Observations from Abuja on Thursday revealed that NNPCL now sells fuel at N930 per litre, down from N945, with the new pricing applied across its retail outlets along Kubwa Expressway, Gwarimpa, Wuse Zones 4 and 6, and other stations in the capital.
Other filling stations in Abuja have followed the trend. Ranoil in Gwarimpa reduced its pump price from N940 to N935 per litre, while MRS and AP Ardova outlets are dispensing petrol between N930 and N935 per litre. These reductions coincide with ex-depot price cuts by Dangote Refinery, Pinnacle, and Aiteo, which lowered their rates by at least N10 per litre to N846, N845, and N844, respectively, as of Thursday morning.
Chinedu Ukadike, spokesperson for the Independent Petroleum Marketers Association of Nigeria (IPMAN), told DAILY POST that the ongoing petrol price competition could trigger further declines, indicating that refiners and depot owners are adjusting their prices in response to market pressures.