The retail price of Premium Motor Spirit (PMS), commonly known as petrol, has dropped to ₦965 per litre in the Federal Capital Territory (FCT), bringing some relief to consumers.
A survey conducted by PUNCH Online on Monday confirmed that the Nigerian National Petroleum Company (NNPC) Limited implemented the new price across its retail outlets in Abuja.
This marks the second price reduction in less than two weeks, following an earlier drop from ₦1,060 per litre earlier this month.
At NNPC’s mega stations in Wuse Zone 4 and along Olusegun Obasanjo Way in the Central Area, the commodity was sold at the new price of ₦965 per litre. The reduction sparked a surge in demand, with commuters forming long queues to take advantage of the lower price.
A driver who spoke about the development commended the NNPC for the price drop but called for uniform pricing across all filling stations to ensure equal access for everyone.
READ ALSO: Why petrol price will drop to N935 per litre nationwide from Monday – IPMAN
He said, “Yes, NNPC has reduced its price to N965. I bought it this morning, but the queue is too long. Maybe because other stations are selling at a different price.”
However, independent and major marketers sold their products between N1,030 and N1,070 across various locations visited by our correspondent.
Recall that on Sunday, the Independent Petroleum Marketers Association of Nigeria said that petrol is going to sell at N935 per litre beginning from Monday (today) based on the latest arrangement with the Dangote Petroleum Refinery.
IPMAN’s National President, Maigandi Garima, said the reduction in Dangote refinery’s ex-depot price for petrol and the uniform arrangement being put in place, would enable marketers to sell at N935 in their outlets nationwide, incurring a cost of N36 on logistics.
(Punch)