The Nigerian National Petroleum Company Limited (NNPCL) has reduced the pump price of Premium Motor Spirit (PMS), marking its second downward adjustment in less than two weeks.
A market survey on Saturday showed that NNPCL retail outlets have lowered the price of petrol to N1,150 per litre from N1,210 per litre, representing a reduction of N60.
The latest adjustment brings the total reduction in the state-owned oil company’s pump price to N110 per litre between June 27 and July 5, 2026.
The price cut comes three days after Dangote Refinery announced its fourth reduction in the ex-depot (gantry) price of petrol, lowering the rate to N1,075 per litre.
The development follows similar price adjustments by independent marketers, with NIPCO, AA Rano and Ranoil reducing their pump prices to between N1,205 and N1,240 per litre.
