Motorists are set for fresh relief as the Nigerian National Petroleum Company Limited (NNPCL) has reduced the pump price of petrol for the second time in just four days.
The latest adjustment, announced on Saturday, saw the state-owned oil company slash its petrol price by ₦50 per litre, bringing the cost down to ₦1,210 per litre from ₦1,260 previously charged at its retail outlets.
A market survey conducted by DAILY POST showed that NNPCL filling stations around Airport Junction and Wuse Zone 6 (Berger) in Abuja had already begun dispensing fuel at the new price of ₦1,210 per litre.
The development comes barely two days after Dangote Refinery reduced its ex-depot petrol price by ₦50 to ₦1,125 per litre.
Recall that NNPCL had only four days earlier reduced its pump price by ₦75 per litre, bringing the price to ₦1,260 per litre before the latest cut.
Following the new reduction by NNPCL outlets, petrol prices across Abuja and neighbouring areas now range between ₦1,210 and ₦1,305 per litre.
The latest drop in domestic fuel prices comes amid a decline in global crude oil prices, with West Texas Intermediate crude trading at about $69 per barrel and Brent crude selling at around $71 per barrel following the easing of tensions in the Middle East.
DAILY POST reports that President Bola Tinubu has remained silent despite growing calls from Nigerians for a corresponding reduction in local fuel prices in line with the significant fall in global crude oil prices.
