The Nigerian National Petroleum Company Limited (NNPCL) has reduced its petrol pump price for the second time within four days.
A market survey by Daily Post showed that NNPCL retail outlets around Airport Junction, Wuse Zone 6, and Berger areas of Abuja adjusted their petrol price from ₦1,260 to ₦1,210 per litre.
The latest reduction represents a ₦50 cut per litre by the state-owned oil company.
The development came two days after Dangote Refinery reduced its petrol gantry price by ₦50, bringing it down to ₦1,125 per litre.
It also followed an earlier price adjustment by NNPCL, which saw the company reduce petrol prices by ₦75 per litre to ₦1,260.
Following the latest cut, petrol prices at NNPCL outlets in Abuja and surrounding areas now range between ₦1,210 and ₦1,305 per litre.
The reduction comes amid a decline in global crude oil prices, with West Texas Intermediate (WTI) trading around $69 per barrel and Brent crude at about $71 per barrel following easing tensions in the Middle East.
The drop in international crude prices has increased expectations among consumers that petrol prices in Nigeria will continue to decline.
Meanwhile, Dangote Refinery has also reduced the prices of other petroleum products, cutting diesel and aviation fuel prices by ₦100 per litre.
Diesel, previously sold at ₦1,700 per litre, was reduced to ₦1,600, while aviation fuel dropped from ₦1,550 to ₦1,450 per litre.
The latest adjustments follow the refinery’s earlier reduction of petrol gantry price from ₦1,250 to ₦1,175 per litre, a move linked to falling global crude oil prices.
