The Nigerian National Petroleum Company Limited (NNPCL) has reduced the pump price of petrol at some of its retail outlets in Lagos and Ogun states.
Checks at several NNPC filling stations along the Ibafo axis of the Lagos-Ibadan Expressway showed petrol selling for about N1,305 per litre, slightly lower than the previous price of over N1,310 per litre recorded in some locations.
Motorists who purchased fuel at the affected stations paid less than before following the downward adjustment.
While other fuel marketers in the area continue to sell at varying rates, NNPCL’s price reduction reflects recent changes in market supply costs.
The development follows a recent price cut announced by the Dangote Petroleum Refinery, which reduced its ex-depot petrol price from N1,275 per litre to N1,250 per litre. The refinery also lowered the price of diesel from N1,800 per litre to N1,700 per litre.
The impact of the adjustment is already being felt across several filling stations. On Tuesday, some MRS outlets around the Mowe and Ibafo axis sold petrol for about N1,286 per litre.
Other marketers, including NIPCO and Heyden, sold petrol at around N1,290 per litre, while SGR offered the product at approximately N1,297 per litre.
