NNPCL Reduces Petrol Price by N80 Per Litre
The Nigerian National Petroleum Company Limited (NNPCL) has announced a reduction in the pump price of Premium Motor Spirit (PMS), popularly known as petrol, by N80 per litre, bringing some relief to motorists across the country.
The price adjustment, which took effect immediately, is part of ongoing efforts by the national oil company to stabilise the downstream petroleum sector and ease the financial burden on Nigerians amid prevailing economic challenges.
NNPCL Outlets Reflect New Price
Checks at several NNPCL retail outlets showed that the revised price has already been implemented, although pump prices may vary slightly depending on location and logistics costs.
The development follows recent movements in global crude oil prices as well as improvements in domestic supply arrangements.
Impact on Transportation and Inflation
Industry observers say the reduction could help moderate transportation costs and slow the rise in prices of goods and services, especially as fuel costs play a major role in Nigeria’s inflation dynamics.
NNPCL has assured Nigerians of continued efforts to ensure a steady fuel supply and price stability, urging marketers to reflect the new price at their outlets.
