Nigerian National Petroleum Company Limited has again reduced the price of premium motor spirit, popularly known as petrol.
This is the second time in one week.
The state-owned oil firm adjusted its petrol price to N890 per litre from N895.
This represents a N5 per litre downward price review.
NNPCL retail outlets along Kubwa Expressway, Gwarimpa, Wuse Zone 4, and others in Abuja have adjusted their pumps to the new price.
The latest adjustment comes barely a week after the company implemented a retail price slash.
While NNPCL retail outlets dispense fuel at N890 per litre, Dangote Refinery’s retail partners, such as AP Ardova, Optima, MRS, and Bovas filling stations, sell at N885 per litre.
The Independent Petroleum Marketers Association of Nigeria’s National President Abubakar Maigandi, earlier said that fuel prices will continue to fluctuate because of the deregulation of the oil and gas downstream sector.
Dangote Refinery has also continued to reduce the price of petrol, reflecting the price of crude in the global oil market.
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