The Nigerian National Petroleum Company Limited (NNPCL) has reduced the price of Premium Motor Spirit (PMS), also known as petrol to N950 per litre in Ibadan, Oyo state capital.
Tribune Online reports that the nation’s oil company, on Monday, reduced petrol price at its retail outlets in Abuja to N965 per litre in Abuja.
During visits to NNPCL outlets in Ibadan on Monday, Tribune Online correspondent observed that the price has been reviewed down to N950 from N1,015 per litre.
The development follows the recent announcement that the nation’s oil company has reduced its ex-depot price of petroleum products to N899 per litre.
This came days after the 650,000 barrels per day Dangote refinery announced a reduction in its petrol price for oil marketers. Also, the refinery announced a partnership with MRS to sell the products at N935 per litre to Nigerians across the latter’s outlets in the country.
Meanwhile, the Independent Petroleum Marketers Association of Nigeria (IPMAN), had earlier disclosed readiness to begin sales of petrol at N935 per litre from Monday (today).
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