NNPCL reduces fuel price after Dangote Refinery’s adjustment

The Nigerian National Petroleum Company Limited (NNPCL) has effected a downward review of its premium motor spirit (PMS), commonly known as petrol, pump price, PulseNets learnt on Thursday.

A PulseNets correspondent confirmed that NNPCL retail stations across the Federal Capital Territory (FCT), Abuja, have now adjusted their fuel pump price from N945 per litre to N890 per litre.

The price adjustment was observed at several NNPCL-operated outlets, including the mega station at Danziyal Plaza, Central Area, as well as Wuse Zone 4, Wuse Zone 6, and other strategically located filling stations within the nation’s capital.

According to PulseNets findings, this latest price slash by NNPCL represents a reduction of N55 per litre for motorists and commuters in Abuja.

“It was reduced to N890 per litre this afternoon, down from N945,” an NNPCL fuel attendant told PulseNets anonymously on Thursday.

The move comes shortly after PulseNets reported that MRS Empire Energy, another major player in Nigeria’s downstream oil sector, also adjusted its pump prices on Thursday — selling at N885 and N946 per litre, down from N910 and N955 per litre respectively.

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Industry experts told PulseNets that the trend in fuel price reductions is linked to Dangote Refinery’s recent ex-depot petrol price cut by N30, moving from N850 to N820 per litre, alongside shifts in international crude oil market prices.

This development has sparked renewed discussions among petroleum marketers, energy analysts, and consumers about the future of fuel pricing in Nigeria amid ongoing market volatility.