ABUJA, Nigeria (VOICE OF NAIJA)-The Nigerian National Petroleum Company Limited has reduced the pump price of premium motor spirit for the second time in less than two weeks.
A market survey on Sunday showed that the state-owned oil company lowered its petrol price to N1,150 per litre from N1,210, representing a reduction of N60.
The latest adjustment means NNPCL has cut its petrol price by a cumulative N110 between June 27 and July 5, 2026.
The reduction comes three days after Dangote Refinery announced its fourth gantry price cut, lowering the ex-depot price of petrol to N1,075 per litre.
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Other marketers, including NIPCO, AA Rano and Ranoil, have also reduced their pump prices to between N1,205 and N1,240 per litre.
The decline in both gantry and retail petrol prices coincides with a drop in global crude oil prices, with Brent crude trading at about $72 per barrel and West Texas Intermediate at around $68 per barrel at the time of reporting.