Petrol Price Falls to ₦1,150/L as NNPCL Slashes Cost by ₦60
The Nigerian National Petroleum Company has announced a fresh reduction in petrol prices, cutting the pump rate by ₦60 per litre. At NNPCL stations, Premium Motor Spirit now sells for ₦1,150 per litre, down from ₦1,210. This marks the second cut in under two weeks and brings total savings since June 27 to ₦110 per litre. Dangote Refinery also lowered its ex-depot price to ₦1,075, its fourth reduction in recent weeks. Other major marketers have adjusted rates to between ₦1,205 and ₦1,240 per litre. The cuts follow a dip in global crude prices, with Brent trading around $72 and WTI at about $68 per barrel. Observers expect increased competition and relief for motorists facing high transport costs.
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