Following Dangote Refinery’s recent gantry petrol rate cut, several petrol outlets, including Nigerian National Petroleum Company Limited, have drastically cut the prices of premium motor spirit on Wednesday.
According to a Footynaija market survey, NNPCL retail shops in Abuja have reduced the price of fuel to N1335 per litre from N1364.
Similarly, AA Rano, NIPCO, and Abuja retail shops all reduced their rates per litre to N1350 from N1370, and N1330 from N1350.
This indicates that AA Rano, NNPCL, and NIPCO all reduced their fuel prices by N20 and N29 per litre, respectively.
You may remember that at the end of last month, Dangote Refinery slashed the price of gasoline by 25 Naira per litre.
Consequently, a number of petrol shops had reduced the price of their fuel pumps.
In response, the head of Nigeria’s independent petroleum marketers promised that as soon as the 650,000-barrel-per-day refinery sent additional petrol, more petrol outlets will lower their prices.