JUST IN: NNPCL CUTS PETROL PUMP PRICE NATIONWIDE FOR THE SECOND TIME IN TWO WEEKS

NNPCL CUTS PETROL PUMP PRICE NATIONWIDE FOR THE SECOND TIME IN TWO WEEKS


The Nigerian National Petroleum Company Limited (NNPCL) has announced another reduction in the pump price of Premium Motor Spirit (PMS), commonly known as petrol, marking its second price cut in less than two weeks.

A market survey indicated that NNPCL retail outlets have adjusted the pump price from ₦1,210 per litre to ₦1,150 per litre, representing a ₦60 reduction for consumers nationwide.

With the latest adjustment, the state-owned oil company has reduced petrol prices by a cumulative ₦110 per litre between June 27 and July 8, 2026, as competition intensifies in Nigeria's downstream petroleum sector.

The development comes just days after Dangote Refinery announced its fourth reduction in gantry loading prices, bringing its ex-depot rate down to ₦1,075 per litre.

Other marketers, including NIPCO, AA Rano, and Ranoil, have also reviewed their retail pump prices downward, with prices now ranging between ₦1,205 and ₦1,240 per litre at various filling stations.

Industry observers attribute the recent price adjustments to increased competition among suppliers and the decline in global crude oil prices. At the time of reporting, Brent crude traded at about $72 per barrel, while West Texas Intermediate (WTI) stood at approximately $68 per barrel.

Motorists and consumers are expected to benefit from the latest reduction as operators across the country continue to adjust prices in response to changing market conditions.

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