The Nigerian National Petroleum Company Limited (NNPCL) has reduced the pump price of petrol at some of its retail stations in Abuja and surrounding areas.
A market check conducted in the Federal Capital Territory on Sunday showed that selected NNPCL outlets had lowered their petrol price from ₦1,430 to ₦1,405 per litre.
The revised price was observed at stations in locations including Gwarimpa and Kubwa.
However, the adjustment has not been implemented uniformly across all NNPCL outlets in the capital. Some stations along the Kubwa Expressway, Air Junction and Wuse Zones 4 and 5 were still dispensing petrol at ₦1,395 per litre.
Other major fuel retailers in Abuja also recorded varying prices. Stations operated by MRS, Ranoil, AA Rano, Empire Energy and other marketers were selling petrol within a range of ₦1,395 and ₦1,430 per litre, depending on the location.
The NNPCL adjustment comes shortly after Dangote Petroleum Refinery announced a ₦25 reduction in its petrol gantry price, bringing the refinery’s price down to ₦1,325 per litre from ₦1,350.
Despite the reduction at the refinery and the subsequent adjustments by some NNPCL stations, several filling stations in Abuja and other parts of the country have yet to reflect the lower prices.
The varying pump prices mean that motorists may continue to pay different amounts for petrol depending on the filling station and location.
The development is also taking place amid elevated international crude oil prices. At the time of the report, Brent crude was trading at about $104 per barrel, while West Texas Intermediate (WTI) was around $92 per barrel.
For consumers, the latest price changes highlight the continuing fluctuations in Nigeria’s downstream petroleum market, with retail prices influenced by supply conditions, distribution costs and the prices at which marketers obtain their products.
