Nigerian National Petroleum Company Limited (NNPCL) drops petrol pump price to N965 in Abuja

Energy watchers believe competition and exchange rate stability will lead to further price downward trend.

A private car driver, Anthony Emenime, told The ICIR reporter that petrol was sold at N1,015 at an NNPCL filling station at Ago-Palace Way, Okuta in Lagos.

This could mean that the slight price reduction may not have been reflected by the NNPCL across its retail outlets nationwide.

On Sunday at an NNPCL filling station close to Inter-change junction along the Lagos Ibadan-Express Way, the reporter observed the NNPCL pump price at N1,020 per litre.

However, on Monday, at the Federal Capital Territory, Abuja, some NNPCL’s retail outlets sold petrol at N965 per litre.

The NNPCL price drop expected to reflect in other parts of the country came barely two days after Dangote Refinery reached an agreement with MRS Oil Nigeria to sell petrol at N935 per litre nationwide at the marketer’s retail outlets.

An NNPCL’s mega station located along Wuse Zone 4 and Olusegun Obasanjo Way, Central Area, reportedly sold petrol at N965 per litre with commuters scrambling to join the long queue.

Despite the drop in NNPCL and Dangote, however, independent and major marketers are yet to effect any price change at their outlets.

The ICIR can report that petrol is still being sold at N1,030 in some filling station in Lagos and about N1,060 in Ogun states.

On Sunday, the Independent Petroleum Marketers Association of Nigeria (IPMAN) hinted at a price drop to N935 per litre starting from Monday.

It said the price drop was based on the latest arrangement with the Dangote Refinery.

IPMAN’s National President, Maigandi Garima, was quoted as saying that the reduction in Dangote refinery’s ex-depot price for petrol and the uniform arrangement put in place, would enable marketers to sell at N935 in their outlets nationwide, incurring a cost of N36 on logistics.V!EW BEFORE THEY GOT DELETED| Baltazar FROM Equatorial Guinea TRENDS AGAIN AS OVER 50 OF HIS FRESH BEDR00M V!DEOS SVRFACES ONLINE.

The ICIR earlier reported the Dangote Refinery had on December 19 slashed its petrol price to N899.50 per litre from N970 at its refinery loading gantry to marketers to provide succour to Nigerians during the Yuletide...Tap To Read The Full Story Here.