NNPCL and marketers slash petrol rates to ₦910 per litre in Abuja

The Nigerian National Petroleum Company Limited (NNPCL) and several independent marketers have announced another reduction in the pump price of Premium Motor Spirit (PMS), commonly known as petrol, at retail outlets across the Federal Capital Territory (FCT).
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This adjustment marks the third successive price cut over the past fortnight, driven by falling ex-depot prices from refineries and depots.
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Checks across the nation’s capital, which is a competitive pricing environment, show the significant drops at major stations. The official NNPCL filling stations have reduced their price to ₦915 per litre, down by ₦5 from the previous price of ₦920 per litre. Major marketers like BOVAS and MRS are offering even lower prices, with some stations dispensing petrol at ₦910 per litre. Stations such as AYM Shafa, NIPCO, Optima, Mobil, Ranoil, and Empire are selling petrol at prices ranging between ₦920 and ₦937 per litre, depending on operational costs and location.
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‎The retail price slash is linked to the steady decline in ex-depot prices, the cost at which marketers purchase the product from refineries and import terminals. As of Wednesday, the price structure from key supply points like Dangote Refinery, was ₦824.50 per litre, Eterna and Aiteo Depots ₦823.00 per litre while BOVAS ₦822.00 per litre.
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‎The President of Dangote Group, Alhaji Aliko Dangote, recently promised Nigerians an uninterrupted petrol supply during the festive season.
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‎The emergence of Dangote Refinery and other major domestic suppliers has introduced competition, which is translating into lower costs for consumers at the pump.
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