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Breaking News: NNPCL Slashes Petrol Price Again, Now Sells at N890 Per Litre
The Nigerian National Petroleum Company Limited (NNPCL) has announced a fresh reduction in the price of Premium Motor Spirit (PMS), also known as petrol marking the second downward adjustment in just one week.
As observed by Lagos Reporters correspondents on Wednesday, the state-owned oil company has revised its pump price from N895 per litre to N890 per litre. This reflects a modest N5 reduction per litre.
Several NNPCL retail stations in Abuja including outlets along Kubwa Expressway, Gwarimpa, and Wuse Zone 4 have already updated their pump prices in line with the latest directive.
This latest price cut comes barely a week after the NNPCL made a similar adjustment, raising hopes among Nigerians for possible further relief amid the country's ongoing economic challenges.
Meanwhile, some private retail partners of the Dangote Refinery, including AP Ardova, Optima, MRS, and Bovas filling stations, are selling at slightly lower prices, dispensing fuel at N885 per litre.
The back-to-back reductions by the NNPCL may signal increased competition in the domestic fuel market and growing pressure from private refinery operations.