The Nigerian National Petroleum Company Limited (NNPCL) has reduced the pump price of premium motor spirit (petrol) for the second time in less than two weeks.
A market survey conducted by Daily Post on Sunday revealed that NNPCL’s retail outlets now sell petrol at ₦1,150 per litre, down from ₦1,210. This latest adjustment represents a ₦60 reduction.
Between June 27 and July 5, 2026, NNPCL has slashed petrol prices by a total of ₦110.The move follows Dangote Refinery’s fourth gantry price cut last week, which brought its rate down to ₦1,075 per litre.
Other marketers, including NIPCO, AA Rano, and Ranoil, have also reduced their pump prices to between ₦1,205 and ₦1,240 per litre.
The downward trend in fuel prices coincides with falling global crude oil benchmarks, as Brent and West Texas Intermediate dropped to $72 and $68 per barrel respectively.
NNPCL’s latest reduction is expected to ease pressure on consumers, who have faced months of high fuel costs amid economic challenges.
