The Nigerian National Petroleum Company Limited (NNPCL) has effected a reduction in the pump price of Premium Motor Spirit (PMS) across its retail outlets, following similar downward adjustments by Dangote Refinery and major depot operators.
A DAILY POST correspondent who monitored filling stations in Abuja on Thursday gathered that the state-owned oil firm has slashed its fuel price to N930 per litre from N945.
The downward adjustment has been implemented in NNPCL retail outlets in Kubwa Expressway, Gwarimpa, Wuse Zone 4, Zone 6 and filling stations within Abuja and environs.
With the review, NNPCL has effectively reduced its price by N10 per litre.
Checks by DAILY POST also showed that independent marketers are adjusting their pumps accordingly. Ranoil in Gwarimpa is now selling at N935 per litre from N940.
Similarly, MRS and AP Ardova outlets in the capital city dispensed petrol on Thursday at prices ranging between N930 and N935 per litre.
The price movement follows cuts in ex-depot rates by Dangote Refinery and major depot operators, including Pinnacle and Aiteo, which dropped their prices by at least N10 to N846, N845 and N844 per litre respectively.
Earlier, the spokesperson of the Independent Petroleum Marketers Association of Nigeria, IPMAN, Chinedu Ukadike, told DAILY POST that fuel prices may drop further as the ongoing petrol price war intensifies.