The retail price of premium motor spirit (PMS), popularly known as petrol, has dropped to N965 per litre at Nigerian National Petroleum Company (NNPC) outlets in the Federal Capital Territory (FCT).
NNPC adjusted its price at retail stations, marking the second reduction in under two weeks from the earlier price of N1,060 per litre.
At its mega stations in Wuse Zone 4 and along Olusegun Obasanjo Way, the new price sparked long queues as commuters rushed to purchase the fuel.
One driver expressed satisfaction with the price reduction but urged for uniform pricing across all filling stations for ease of access.
“Yes, NNPC has reduced its price to N965. I bought it this morning, but the queue is too long. Maybe because other stations are selling at a different price,” the driver said.
Meanwhile, independent and major marketers continue to sell petrol between N1,030 and N1,070 per litre in other parts of Abuja.
This development follows a statement by the Independent Petroleum Marketers Association of Nigeria (IPMAN) on Sunday, announcing plans to sell petrol at N935 per litre. IPMAN’s National President, Maigandi Garima, attributed the reduction to a new arrangement with the Dangote Petroleum Refinery, which has decreased the ex-depot price.
Garima added that the uniform pricing arrangement would enable marketers to sell petrol at N935 nationwide, accounting for an additional N36 per litre on logistics costs.
The latest price changes are part of ongoing efforts to stabilize the downstream sector and ensure affordability for consumers.
