The Nigerian National Petroleum Company Limited has seen fit to decrease its premium motor spirit prices at the pump, following the decision made by Dangote Refinery and various depot owners to lower their ex-depot costs. Reports indicate that filling stations in Abuja, as of Thursday, noted that the state-owned enterprise has trimmed its fuel price from N945 to N930 per litre.
This price reduction has been enacted across NNPCL retail locations situated along Kubwa Expressway, as well as in Gwarimpa, Wuse Zone 4, Zone 6, and other filling stations in the Abuja metropolitan area and its surroundings.
Consequently, NNPCL has diminished its retail fuel price by N15 per litre.
Additionally, DAILY POST has observed that other Nigerian fueling stations, including Ranoil in Gwarimpa, have also lowered their pump rates by N5, adjusting the price from N940 to N935 per litre.
In a similar vein, MRS and AP Ardova filling stations within Abuja are currently dispensing petrol at prices ranging between N930 and N935.
This noteworthy development follows the actions taken by Dangote Refinery and depot proprietors, such as Pinnacle and Aiteo, who have also reduced ex-depot pricing by at least N10, bringing their prices to N846, N845, and N844 per litre, respectively, as noted on Thursday morning.
In a prior statement, Chinedu Ukadike, spokesperson for the Independent Petroleum Marketers Association of Nigeria (IPMAN), revealed to DAILY POST that there is a possibility of further declines in fuel prices as the ongoing price competition escalates.
