The Nigerian National Petroleum Company Limited, NNPCL has reduced the prices of Premium Motor Spirit, known as petrol for oil marketers.
Petroleum Products Retail Outlets Owners Association of Nigeria, PETROAN, spokesperson Joseph Obele made this known in a statement on Saturday.
A document released by the NNPC commercial department, shows the latest reduction based on the regional pricing scheme as follows: Lagos, N899.0; Warri, N970.0; Oghara, N970.0; Port Harcourt, N970.0. and Calabar, N970.0.
The price reduction by NNPC is in response to the recent price adjustment announced by Dangote Refinery.
This means that there is a slight N0.50 margin between NNPC and Dangote Petrol prices.
Reacting to the development, PETROAN National President Billy Gillis Hary said the price reduction will bring relief to motorists and Nigerians during the holiday season.
“The reduction in PMS price by NNPCL is a demonstration of the company’s commitment to making petroleum products more affordable for Nigerians.
“We commend NNPCL for responding to our call for affordable PMS prices.”
Meanwhile, Nigerians currently buy petrol between N1040 per litre and N1,150 at filling stations nationwide.
