The Nigerian National Petroleum Company Limited (NNPCL) has reduced the price of Premium Motor Spirit (PMS), commonly known as petrol, just 48 hours after its previous adjustment.
A survey of filling stations in Lagos and the Federal Capital Territory (FCT), Abuja, on Thursday revealed that several NNPCL outlets have adjusted their prices downward.
In Lagos, petrol now sells at ₦840 per litre, representing a 35% reduction from the previous price of ₦875. In Abuja, the pump price dropped to ₦835 per litre from ₦915, marking a significant decrease of ₦80.
This development follows price reviews by independent marketers, including MRS, BOVAS, and AA Rano, who recently adjusted their pump prices to between ₦739 and ₦865 per litre across Lagos and Abuja.
The latest price cut by NNPCL comes on the heels of the Ɗangote Refinery slashing its ex-depot price to ₦699 per litre.
