NNPCL SLASHES FUEL PRICE BY N95 AFTER DANGOTE REFINERY ADJUSTMENT

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By: Fasasi Hammad

The Nigerian National Petroleum Company Limited (NNPCL) has cut its petrol prices following Dangote Refinery’s announcement of a gantry price reduction.

According to the media, NNPCL filling stations in Abuja and surrounding areas lowered their fuel pump price to N1,165 per liter on Wednesday, down from N1,260 per liter on Tuesday — a reduction of N95 per liter by the state-owned company.

The revised price has been implemented at NNPCL outlets in Jabi, Lifecamp, Wuse Zone 5, and Zone 4. Meanwhile, Automotive Gas Oil (diesel) is now sold at N1,535 per liter.

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Other filling stations have also adjusted their petrol prices: NIPCO at N1,195, AP at N1,200, and AA Rano at N1,223 per liter.

A manager at MRS filling station, who spoke on condition of anonymity, confirmed that their retail outlet will adjust petrol prices by N100, bringing it to N1,167 per liter starting Thursday. “We will reduce our petrol price to N1,167 per liter from Thursday,” he told DAILY POST on Wednesday.

Earlier, the media reported that Nigerian filling stations had cut fuel prices by N20 per liter after Dangote Refinery lowered its gantry price to N1,075, following a decline in crude oil prices.

As of Wednesday, Brent and West Texas Intermediate (WTI) crude oil were trading at $91.76 and $86.86 per barrel, respectively.