The Nigerian National Petroleum Company Limited (NNPCL) has dropped the pump price of Premium Motor Spirit (PMS), commonly known as petrol, to N860 per litre, intensifying the competition among oil marketers and independent dealers.
This latest reduction, effective Monday, marks a significant drop from the previous N920 per litre and follows the recent price cut by Dangote Petroleum Refinery, which lowered its ex-depot price to N825 per litre last week.
With global crude oil fluctuations influencing the market, NNPCL’s move signals a major shift in Nigeria’s fuel pricing landscape.
The company also announced its new partner off-takers in Lagos to include MRS: N860 per litre, AP: N865 per litre and Heyden: N865 per litre
As the price war unfolded, consumers are hopeful for further reductions, while industry experts monitor how the competition between NNPCL, Dangote Refinery, and independent marketers will shape fuel affordability in the coming weeks.
