A market survey conducted on Wednesday showed that the state-owned oil company’s filling stations had adjusted their prices from between N1,370 and N1,405 per litre to the new rate.
The reduction represents a price cut of between N45 and N80 per litre, depending on the previous pump price at individual outlets.
The new rate has been observed at NNPCL filling stations in Gwarimpa and along the Kubwa Expressway in the Federal Capital Territory.
The development comes barely two days after expectations that petrol prices would fall across the country, including at NNPCL outlets, following a reduction in the gantry price of petrol by the Dangote Refinery.
The refinery had lowered its petrol gantry price to N1,215 per litre, a move that raised expectations of corresponding reductions in retail prices across the downstream petroleum market.
