NNPCL Cuts Petrol Price Again to N1,150 per Liter

The Nigerian National Petroleum Company Limited (NNPCL) announced a reduction in petrol prices from N1,210 to N1,150 per liter, representing a N60 decrease. This adjustment is the second downward review in less than two weeks, following a cumulative reduction of N110 per liter since June 27, 2026.

The price cut aims to align with prevailing market realities and intensify competition among petroleum suppliers. NNPCL's decision coincides with Dangote Refinery's announcement of a reduction in its ex-depot gantry price to N1,075 per liter, marking the fourth reduction in its wholesale petrol price in a short period.

Other independent petroleum marketers, such as Nipco and Ranoil, have also adjusted their prices, reflecting a broader response to declining wholesale prices. The latest reductions come amid a decrease in international crude oil prices, with Brent crude trading at approximately $72 per barrel and WTI at around $68 per barrel.

This trend is expected to benefit motorists and transport operators in Nigeria.