NNPCL announces fresh petrol price cut days after previous reduction

Nigerian National Petroleum Company Limited (NNPCL) has cut the price of fuel at the pump for the second time in four days.

A survey carried out on Saturday revealed that NNPCL fuel selling stations at Airport Junction and Wuse Zone 6 (Berger), Abuja, have cut the price of petrol to N1210 per litre from N1260.

This implies that the government-owned oil company has cut the price of petrol by N50 per litre.

This follows just two days after the Dangote Refinery cuts the price of petrol at the gantry by N50 to N1,125 per litre.

It should be remembered that four days ago, the NNPCL made a cut of N75 per litre to N1260.

Following the recent decrease of NNPCL retail outlets in the prices of fuel, the current prices of petrol are ranging from N1210 per litre to N1305 per litre in Abuja and its surroundings.

This is happening at a time when the prices of crude oil have been falling to $69 per barrel and $71 per barrel of West Texas Intermediate and Brent crude respectively, as a result of the resolution of the Middle East conflict.

According to Central Post Nigeria, President Bola Tinubu has remained silent despite calls from Nigerians for a proportional decrease in the price of domestic fuel following the decrease in the prices of crude oil.