The Nigerian National Petroleum Company Limited (NNPCL) has reduced the pump price of Premium Motor Spirit (PMS), commonly known as petrol, at some of its filling stations.
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A market survey on Wednesday showed that NNPCL outlets in parts of Abuja and its environs had reduced their pump price from N1,395 to N1,370 per litre.
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The latest adjustment represents a N25 reduction per litre by the state-owned oil company.
The new price was observed at NNPCL stations in Wuse Zone 6, Zone 4 and Air Junction in Abuja.
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The reduction follows a similar adjustment by MRS filling stations after Dangote Refinery reduced its gantry price for petrol by N25 per litre, bringing it to N1,325 per litre.
MRS outlets had subsequently reduced their retail price to N1,370 per litre on Monday.
The latest NNPCL adjustment means customers buying petrol from the affected outlets will now pay the same N1,370 per litre retail price reported at MRS stations following the Dangote Refinery price reduction.
The changes come amid fluctuations in the international crude oil market. At the time of the report, Brent crude was trading at about $103 per barrel, while West Texas Intermediate (WTI) stood at around $90 per barrel.
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