Again NNPC reduces fuel price for second time in week

The Nigerian National Petroleum Company Limited had announced reduction in the pump price of Premium Motor Spirit (PMS) for the second time in a week.

This follows ongoing market reactions to deregulation in the downstream oil sector.

NNPCL adjusted the price on Wednesday from N895 per litre to N890.

The change took immediate effect at various NNPCL filling stations across Abuja, including outlets along Kubwa Expressway, Gwarimpa, and Wuse Zone 4.

This is coming  few days after the company slashed prices, indicating a trend that could continue as the market stabilizes under deregulated conditions.

Meanwhile, Dangote Refinery’s retail partners—including AP Ardova, Optima, MRS, and Bovas—are now dispensing fuel at slightly lower rates, with pump prices at N885 per litre.

The National President of the Independent Petroleum Marketers Association of Nigeria, Abubakar Maigandi, while reacting to the new development said the price volatility is a direct consequence of deregulation, which allows market forces to influence fuel costs more freely.