NNPCL slashes Petrol prices again; new prices revealed

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The Nigerian National Petroleum Company Limited (NNPCL) has reduced its premium motor spirit price for the second time in one week, adjusting the petrol price to N890 per litre from N895. This N5 per litre downward price review reflects the company’s response to recent developments in the local supply and distribution value chain.

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NNPCL retail outlets in Abuja, including those along Kubwa Motorway, Gwarimpa, and Wuse Zone 4, have updated their pumps to reflect the new price. Meanwhile, Dangote Refinery’s retail partners, such as AP Ardova, Optima, MRS, and Bovas filling stations, sell fuel at a slightly lower price of N885 per litre.

Abubakar Maigandi, National President of the Independent Petroleum Marketers Association of Nigeria, noted that fuel prices will continue to fluctuate due to the deregulation of the oil and gas downstream sector. “Fuel prices will continue to fluctuate because the market has been deregulated,” he said. “The pricing depends on global crude oil prices, exchange rates, logistics, and local market conditions.” Maigandi urged Nigerians to prepare for dynamic fuel pricing as marketers operate in a liberalized environment where supply and demand determine pump rates

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