Motorists purchasing petrol at outlets operated by the Nigerian National Petroleum Company Limited will now pay N1,210 per litre following another downward review of the product's pump price.
Checks carried out in Abuja on Saturday indicated that NNPCL stations located around Airport Junction and Wuse Zone 6, popularly known as Berger, had reduced the price from N1,260 per litre to N1,210, representing a N50 decrease.
The latest adjustment comes just days after the national oil company implemented an earlier reduction of N75 per litre, making it the second price cut announced within four days.
The fresh review also follows a recent decision by the Dangote Refinery to lower its ex-depot petrol price by N50, bringing the wholesale rate to N1,125 per litre.
As a result of the latest changes, petrol is currently sold at prices ranging from N1,210 to N1,305 per litre across filling stations in Abuja and nearby locations, depending on the marketer.
Industry observers attribute the reductions to the recent decline in international crude oil prices. Brent crude has traded around $71 per barrel, while West Texas Intermediate has remained close to $69 per barrel after tensions in the Middle East eased.
The continued drop in global oil prices has strengthened calls by Nigerians for further reductions in domestic fuel costs. However, the Federal Government has yet to issue any official statement on the growing demand for additional cuts in petrol pump prices.
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