More filling stations in Abuja and surrounding areas have reduced their petrol prices as competition intensifies following recent cuts in the cost of Premium Motor Spirit.

Ranoil, Nigerian Independent Petroleum Company (NIPCO), Empire Filling Stations and other outlets were found selling petrol between ₦1,275 and ₦1,299 per litre on Wednesday.

The new prices represent reductions of between ₦11 and ₦25 per litre from the previous range of ₦1,300 to ₦1,310.

The latest cuts came shortly after the Nigerian National Petroleum Company Limited, AA Rano and other marketers adjusted their pump prices.

The development also follows Dangote Petroleum Refinery’s decision last week to reduce its petrol price by ₦50, from ₦1,210 to ₦1,165 per litre.

The successive price reductions are increasing competition among fuel retailers and could provide some relief for motorists as marketers respond to changes in the downstream petroleum market.