NNPC slashes petrol price to N925/litre in Lagos, N965/litre in Abuja

The Nigerian National Petroleum Company (NNPC) Limited has reduced the retail price of petrol at its outlets to N925 per litre in Lagos and N965 per litre in Abuja.

NNPC dropped the price of the product from N1,025 per litre in Lagos and N1,040 in Abuja.

TheCable observed that the petrol price dropped to N925 per litre at NNPC retail outlets in Ago Palace Way, Lagos.

A pump attendant told TheCable that the NNPC outlet at Apple Junction reduced its petrol price on Monday afternoon to N925.

However, at the NNPC retail branch at College Road, Ogba, the price of the product stood at N1,015.

The pump price of petrol also dropped to N1,015 —  from N1,025 per litre at the Mobile filling station, at College Road.

In Abuja, NNPC also slashed the petrol price to N965 at its Lugbe outlet.

At the MRS filling station on Kubwa road, the pump price dropped to N935 per litre from N1,070.

In Ibadan, NNPC reduced the price of the product to N985 per litre — from N1,015 per litre — at the Agodi retail outlet.

The development comes after a reduction in the product’s ex-depot prices in the downstream sector.

On December 19, Dangote Petroleum Refinery reduced the ex-depot price of its petrol to N899.50 per litre.

Similarly, the refinery partnered with MRS Oil Nigeria Plc filling stations to sell petrol at N935 per litre at its retail outlets.

On December 21, the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) said the NNPC reduced its ex-depot price to N899 per litre in Lagos.