Fuel price: NNPCL reduces petrol price to N1,405 in Abuja

The Nigerian National Petroleum Company Limited (NNPCL) has reduced petrol pump prices at its filling stations in Abuja.
 

A market survey conducted on Sunday, September 27 showed that NNPCL retail outlets in Gwarimpa, Kubwa, and other parts of Abuja and its environs adjusted their petrol prices to ₦1,405 per litre from ₦1,430 per litre.
 

However, NNPCL retail outlets along the Kubwa Expressway, Air Junction, and Wuse Zones 4 and 5 retained their petrol price at ₦1,395 per litre. This indicates that petrol prices at NNPCL retail outlets vary by ₦10 per litre depending on the location.
 

Other major and independent marketers, including MRS, Ranoil, AA Rano, and Empire Energy, were dispensing petrol at rates between ₦1,395 and ₦1,430 per litre across the federal capital.

The price adjustment follows a decision by the Dangote Refinery to reduce its gantry fuel price by ₦25 per litre to ₦1,325.
 

Despite the reduction by NNPCL, a majority of filling stations are yet to lower their retail prices, as consumers continue to call for further reductions amid global crude oil prices trading at $92 per barrel for West Texas Intermediate (WTI) and $104 per barrel for Brent crude.