BREAKING; Petrol price dropped again as NNPC reveals new pump price per litre
BREAKING; Petrol price dropped again as NNPC reveals new pump price per litre
BREAKING; Petrol price dropped again as NNPC reveals new pump price per litreThe price of premium motor spirit, commonly known as petrol, has dropped to N965 per litre in the Federal Capital Territory, marking a significant shift in the fuel market.
This price adjustment, implemented by the Nigerian National Petroleum Company Limited (NNPC), was observed across its retail outlets in the capital on Monday, much to the satisfaction of motorists.
This recent reduction is the second such decrease within a span of two weeks, following a drop from N1,060 earlier this month.
At NNPC’s prominent stations, such as the mega station on Wuse Zone 4 and Olusegun Obasanjo Way in the Central Area, petrol was available for N965 per litre.
The lower price prompted long queues, as commuters rushed to take advantage of the new rate.
One customer, who had just purchased petrol, commented, “Yes, NNPC has reduced the price to N965. I bought it this morning, but the queue was really long. It seems others are still selling at higher prices.”
In contrast, independent and major marketers were still selling petrol at prices ranging from N1,030 to N1,070 at various stations, as reported by our correspondent.
In a related development, the Independent Petroleum Marketers Association of Nigeria (IPMAN) had earlier announced that petrol prices would fall to N935 per litre starting today, following new agreements with the Dangote Petroleum Refinery.
IPMAN’s National President, Maigandi Garima, explained that this reduction was made possible by a drop in the refinery’s ex-depot price for petrol, alongside a new pricing arrangement that would allow marketers to sell at N935 per litre, with an added N36 cost for logistics.
