The Nigerian National Petroleum Company Limited (NNPCL) has reduced the pump price of Premium Motor Spirit (PMS), commonly known as petrol, across its retail outlets.

Recent inspections confirm that NNPCL stations in the Federal Capital Territory (FCT) and surrounding areas have adjusted their prices downward. The price dropped by N36, moving from the previous rate of N1,335 per litre to a new rate of N1,299 per litre.

The new pricing structure is already active at several major NNPCL outlets. Motorists confirmed the reduction at stations along the Kubwa Expressway, in Lugbe, and within Wuse Zone 3.

This reduction follows a market shift initiated two days ago when MRS filling stations—backed by product from the Dangote Refinery—cut their petrol price by N40 to N1,265 per litre. The competitive pricing by MRS placed immediate pressure on rival oil marketers, who were previously dispensing fuel between N1,300 and N1,310 per litre, forcing them to review their rates to remain competitive.