- After Dangote Refinery, depot owners cut rates
The Nigerian National Petroleum Company Limited has reduced its premium motor spirit pump price after Dangote Refinery and depot owners dropped ex-depot prices.
Reports said on Thursday that the State-owned firm slashed its petro price to N930 per litre from N945, a difference of N10 cut per litre.
The downward adjustment has been implemented at NNPCL retail outlets in Kubwa Expressway, Gwarimpa, Wuse Zone 4, Zone 6 and filling stations within Abuja and environs.
Reports also said that other filling stations, such as Ranoil in Gwarimpa, reduced their petrol pump prices by N5 to N935 per litre, from N940.
Similarly, MRS and AP Ardova filling stations in Abuja are dispensing their petrol between N930 and N935 per litre.
The development comes as Dangote Refinery and depot owners such as Pinnacle and Aiteo dropped ex-depot prices by at least N10 to N846, N845, and N844 per litre, respectively, as of Thursday morning.
Earlier, the spokesperson of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Chinedu Ukadike, said petrol that prices may further drop as the ongoing price war intensifies.