NNPCL Lowers Petrol Prices in Lagos and Abuja

The Nigerian National Petroleum Company Limited (NNPCL) has announced a reduction in petrol prices at certain filling stations in Lagos and Abuja, offering modest relief to motorists. In Lagos, prices decreased from N1,385 to N1,370 per litre, a reduction of N15.

In Abuja, some stations lowered their prices from N1,430 to N1,405 per litre, a decrease of N25. This adjustment follows a decision to cut the petrol gantry price by N25, bringing it to N1,325 per litre from N1,350.

However, the impact of this price reduction has not been uniform across the country, as some filling stations have not yet adopted the new prices. For instance, in Abuja, petrol was still being sold at N1,395 per litre at various outlets.

The changes come amid elevated international crude oil prices, with Brent crude trading around $92 per barrel. Further fluctuations in domestic fuel supply costs may influence future petrol prices.