Abuja — The Nigerian National Petroleum Company Limited, NNPC, has reduced the prices of the Premium Motor Spirit, PMS – popularly known as petrol – by N20 per litre at its fuel stations in the Federal Capital Territory, Abuja.
The product is now selling for N965 per litre at the state oil company’s stations across the city.
It will be recalled that the Dangote Refinery last week dropped its ex-depot price for petrol to N899.50 per litre.
Following this, the Independent Petroleum Marketers Association of Nigeria, IPMAN, at the weekend announced that beginning from today (Monday) its members will begin to sell petrol at at N935 per litre.
Maigandi Garima, IPMAN’s National President, who disclosed this, stated that the reduced price regime is as a result of a new arrangement with the Dangote Refinery, which will make it possible for the independent marketers to sell at N935 PER LITRE.
IPMAN stations were, however, still selling the product at above N1,00 per litre as at Monday morning.
As for NNPC, it is not clear whether it will extend its new N965 per litre price to other parts of the country.
