ABUJA, Nigeria (VOICE OF NAIJA)-The Nigerian National Petroleum Company Limited and other filling stations have reduced the price of Premium Motor Spirit significantly on Wednesday, days after the Dangote Refinery slashed its gantry petrol rate.
A market survey showed that NNPCL retail outlets in Abuja adjusted their pump price to ₦1,335 per litre from ₦1,364.
Similarly, NIPCO, AA Rano, and other retail stations in Abuja also reduced their prices to between ₦1,330 and ₦1,350 per litre from previous rates of ₦1,350 and ₦1,370 respectively.
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This indicates that NNPCL, NIPCO, and AA Rano lowered their petrol prices by about ₦29 and ₦20 per litre.
Recall that the Dangote Refinery had reduced its gantry petrol price by ₦25 per litre late last month.
Following that move, several filling stations began adjusting their pump prices downward.
The President of the Independent Petroleum Marketers Association of Nigeria had earlier stated that more fuel stations would reduce prices once they receive fresh stock from the 650,000-barrel-per-day refinery.