The Nigerian National Petroleum Company Limited (NNPCL) has lowered the pump price of petrol following a recent price reduction by the Dangote Refinery.

Fuel prices at several NNPCL filling stations in Abuja dropped to N1,165 per litre on Wednesday, down from N1,260 per litre recorded the previous day. The adjustment represents a N95 decrease in the retail price of petrol.
The new rate was observed at NNPCL outlets in locations including Jabi, Lifecamp, Wuse Zone 5, and Wuse Zone 4, where motorists began buying fuel at the updated price. Diesel at the same stations is currently selling for about N1,535 per litre.

Other fuel marketers have also adjusted their prices in response to the development. Stations operated by NIPCO, AP, and AA Rano are now selling petrol at approximately N1,195, N1,200, and N1,223 per litre, respectively.

Meanwhile, a manager at an MRS filling station disclosed that the company plans to implement a further reduction in pump price. According to the official, the station is expected to sell petrol at N1,167 per litre starting Thursday, reflecting a drop of about N100 from its previous price.

The latest adjustments follow an earlier move by the Dangote Refinery, which cut its gantry price for petrol to N1,075 per litre amid declining crude oil prices.

As of the latest market update, Brent crude was trading at around $91.76 per barrel, while West Texas Intermediate (WTI) stood at approximately $86.86 per barrel.

The changes suggest that shifts in refinery pricing and global oil market trends are continuing to influence petrol prices across Nigeria.