The Nigerian National Petroleum Company Limited (NNPCL) has announced a reduction in the pump price of petrol from N960 to N945 per litre at its retail stations, effective February 13.
READ ALSO: Again, Dangote cuts diesel, aviation fuel prices to less than N1,000
This adjustment comes amid shifting market conditions, following MRS Oil Nigeria Plc’s decision to set its petrol price at N925 per litre across Lagos filling stations. MRS also introduced a regional pricing structure, with varying fuel costs across different parts of the country.
Industry analysts attribute the price reductions to declining international crude oil prices and favourable trends in the global energy market.
The development has triggered further adjustments in Nigeria’s petroleum sector, with Dangote Petroleum Refinery & Petrochemicals also lowering its diesel price from N1,075 to N1,020 per litre.
Dangote Refinery stated that the move aligns with its commitment to offering better value to its customers and the Nigerian public.
