The Nigerian National Petroleum Company Limited (NNPCL) has reduced the pump price of Premium Motor Spirit (PMS), popularly known as petrol, at its retail outlets in Abuja and neighbouring areas.
According to reports, NNPCL filling stations have adjusted their petrol price from N1,335 to N1,299 per litre, representing a reduction of N36 per litre.
The new price has reportedly been implemented at NNPCL outlets in areas including Lugbe, Kubwa Expressway and Wuse Zone 3 in Abuja and their environs.
The latest reduction comes two days after MRS filling stations, backed by Dangote Refinery, reduced their petrol pump price by N40 to N1,265 per litre.
The MRS price cut had increased pressure on other petrol retailers selling at between N1,300 and N1,310 per litre to review their prices downwards.
The latest adjustment by NNPCL is expected to further intensify competition among fuel retailers and provide some relief to motorists and other petrol consumers in the Federal Capital Territory.
