The Nigerian National Petroleum Company Limited (NNPCL) has reduced the price of petrol at some of its filling stations in Lagos and Ogun states.
Checks at NNPC retail outlets along the Ibafo axis of the Lagos-Ibadan Expressway showed that petrol is now being sold for about N1,305 per litre. The new price is slightly lower than the previous rate of over N1,310 per litre recorded in some locations.
Motorists who bought fuel at the stations during recent visits paid less than they did before the adjustment.
While other fuel marketers in the area continue to sell petrol at different prices, NNPC stations have reduced their pump prices in response to changes in fuel supply costs in the market.
The latest adjustment follows a recent price cut announced by the Dangote Petroleum Refinery.
The refinery reduced its ex-depot price of petrol from N1,275 per litre to N1,250 per litre. It also lowered the price of diesel from N1,800 per litre to N1,700 per litre.
The reduction has started reflecting in pump prices at several filling stations.
On Tuesday, some MRS filling stations around the Mowe and Ibafo axis sold petrol at about N1,286 per litre.
Other marketers, including NIPCO and Heyden, sold petrol at around N1,290 per litre, while SGR sold at about N1,297 per litre.
