Nigerian National Petroleum Company Limited (NNPCL), a state-owned oil company, lowered the pump price of Premium Motor Spirit to ₦930 per litre on Thursday from ₦945 per litre in Abuja after key depot owners and Dangote Refinery lowered ex-depot costs by ₦10.
NNPCL retail shops have started the downward adjustment, lowering the price per litre by ₦10 from the previous ₦945, according to sources that tracked petrol stations throughout Abuja on Thursday. Now, the replacement pump costs ₦930.
NNPCL retail locations along the Kubwa Expressway, Gwarimpa, Wuse Zones 4 and 6, as well as other locations in Abuja and nearby villages, all saw price reductions. The
The PMS pump pricing at other independent gas stations were likewise modified.
It was noted that Ranoil Filling Station in Gwarimpa sold PMS for ₦935 instead of the original ₦940 after lowering the retail pump price by ₦5.
In a same vein, PMS is currently available at the MRS Ardova and AP Ardova stations in Abuja and surrounding areas for ₦930 to ₦935.
As of Thursday morning, major depots including Pinnacle Depot and Aiteo Depot were selling PMS at ₦846, ₦845, and ₦844 per litre, respectively, after lowering ex-depot PMS pricing by at least ₦10 per litre.
In response to the incident, Chinedu Ukadike, a spokeswoman for the Independent Petroleum Marketers Association of Nigeria (IPMAN), stated that as market rivalry heats up, PMS prices could face additional downward pressure.
