The Nigerian National Petroleum Company Limited has reduced its premium motor spirit pump price for the second time in less than two weeks.
A market survey on Sunday showed that the state-owned filling station has adjusted its petrol price to N1,150 per litre down from N1,210.
The latest reduction means that NNPCL brought down its fuel price by N60.
Between June 27 and July 5, 2026, NNPCL has dropped fuel prices by N110.
NNPCL’s latest petrol price reduction comes barely three days after Dangote Refinery announced its fourth gantry fuel rate cut to N1,075 per litre.
Earlier, the media reported that NIPCO, AA Rano and Ranoil filling stations dropped their fuel price to between N1,205 and N1,240 per litre.
The drop in both gantry and retail fuel prices comes as Brent and West Texas Intermediate crude oil prices fell to $72 and $68 per barrel at the time of reporting.
In another development, GISTSMATE MEDIA reports that the management of Dangote Refinery has announced a fresh reduction in the price of petrol in Nigeria.
The refinery reduced its ex-gantry petrol price by ₦50, bringing it down from ₦1,125 to ₦1,075 per litre.
The reduction comes days after the federal government, through the Federal Competition and Consumer Protection Commission (FCCPC) expressed concerns about the current price of petrol in filling stations across Nigeria.
The FCCPC, in a statement on Sunday, observed that marketers were quick to increase prices following the earlier spike in global crude oil prices.
It recalled that petrol climbed from between ₦800 to ₦900 to between ₦1,350 and ₦1,500 per litre, while diesel sold for as high as ₦2,000 as hostilities intensified in the Gulf between April and May. READ MORE
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