The Nigerian National Petroleum Company Limited (NNPCL) has reduced its premium motor spirit (PMS) pump price after Dangote Refinery and other depot owners lowered their ex-depot prices.

A survey of filling stations in Abuja on Thursday revealed that the state-owned company has cut its fuel price from N945 to N930 per litre. The adjustment is in effect at NNPCL retail outlets along Kubwa Expressway, Gwarimpa, Wuse Zone 4, Zone 6, and other locations within Abuja.

This represents a N10 per litre reduction in NNPCL’s fuel retail price.

Other stations, such as Ranoil in Gwarimpa, have also reduced pump prices by N5, selling fuel at N935 per litre instead of N940. Similarly, MRS and AP Ardova outlets in Abuja are currently dispensing petrol at prices ranging between N930 and N935 per litre.

The move follows ex-depot price cuts by Dangote Refinery and depot owners like Pinnacle and Aiteo, who lowered rates by at least N10 to N846, N845, and N844 per litre, respectively, as of Thursday morning.

The spokesperson for the Independent Petroleum Marketers Association of Nigeria (IPMAN), Chinedu Ukadike, noted that fuel prices may decline further as the ongoing petrol price competition intensifies.