For the second time in a week, the Nigerian National Petroleum Company Limited (NNPCL) has reduced the pump price of Premium Motor Spirit (PMS), dropping it from N895 to N890 per litre.
A DAILY POST correspondent observed on Wednesday that several NNPCL retail outlets across Abuja—including those along Kubwa Expressway, Gwarinpa, and Wuse Zone 4—have adjusted their fuel pumps to reflect the new pricing.
The N5 per litre reduction marks a continuation of recent price adjustments, coming just days after the state-owned oil giant first lowered its retail price.
Meanwhile, retail partners of Dangote Refinery such as AP Ardova, Optima, MRS, and Bovas are currently selling PMS at a slightly lower price of N885 per litre, fueling growing competition in the deregulated downstream sector.
Speaking on the development, the National President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Abubakar Maigandi, attributed the ongoing price fluctuations to the deregulation policy, noting that petrol prices will continue to shift based on market dynamics.
With the competition among major players intensifying, consumers may see more price adjustments in the coming weeks.
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