In what can be regarded as response to competitive pricing and for the second time in one week, the Nigerian National Petroleum Company Limited (NNPCL), on Wednesday, reduced the price of its premium motor spirit (petrol) from N895 per litre to N890 per litre.
The new price regime represents a N5 per litre downward price review when compared to its earlier N895 pump price. It is instructive to note that the NNPCL retail outlets along Kubwa Expressway, Gwarimpa, Wuse Zone 4, and others in Abuja have adjusted their pumps to the new price.
The latest adjustment comes barely a week after the state-owned national oil company implemented a retail price slash For the record, the NNPCL retail outlets dispense fuel at N890 per litre while Dangote Refinery’s retail partners, such as AP Ardova, Optima, MRS, and Bovas filling stations, sell at N885 per litre.
The Independent Petroleum Marketers Association of Nigeria’s National President Abubakar Maigandi had earlier disclosed that fuel prices will continue to fluctuate because of the deregulation of the oil and gas downstream sector.
