The Nigerian National Petroleum Company Limited (NNPCL) has reduced its retail price of Premium Motor Spirit (PMS) to N910 per litre, a drop of N20 from the previous N935.

This adjustment was observed at NNPCL retail outlets along Kubwa Expressway, Zone 4 Abuja, and Gudu in the Federal Capital Territory.

A correspondent from DAILY POST noted that the price cut has already resulted in a noticeable increase in motorists flocking to NNPCL stations.

The price reduction is part of the ongoing “price war” in the downstream petroleum sector.“NNPCL’s new price is part of the ongoing price disruption in the country’s petroleum sector,” the report states, highlighting the impact of competition from Dangote Refinery and its partners.

Following the drop, other major filling stations, including MRS and Dangote Refinery partners, have also adjusted their prices, now selling petrol between N910 and N920 per litre in major cities like Lagos and Abuja.

While the drop in prices is welcomed, some stations still charge N930 to N950 per litre, depending on their location. This comes after a downward review in April, where NNPCL had previously adjusted the price to N935 per litre.