Petrol pump prices dropped across several filling stations in Abuja on Friday following a downward adjustment by the Nigerian National Petroleum Company Limited, NNPC.
News360 Info correspondent who monitored outlets in Abuja observed that stations operated by Ranoil, NIPCO, Sharon, Shema, and AA Rano filling station reduced their pump prices to between N930 and N935 per litre, down from N940 and N945.
This means that the petroleum product marketers slashed the petrol pump price by at least N5.
The spokesperson of the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike confirmed the development, linking it to forces of demand and supply that caused downstream market competition.
News360 Info reported on Wednesday that NNPCL reduced its petrol price in Abuja by N15 to N930 per liter after Dangote Refinery and depot owners cut their ex-depot fuel price.
