ABUJA — State-owned retail operator NNPCL Retail Limited, alongside major independent petroleum marketers, has commenced a downward adjustment of Premium Motor Spirit (PMS) pump prices across retail stations nationwide.
The price reductions directly follow the recent decision by the Dangote Petroleum Refinery to cut its ex-gantry (ex-depot) petrol price by {N}25$ per liter, dropping from {N}1,350$ to {N}1,325$ per liter amid a sharp drop in international crude oil benchmarks.
Market monitoring across major urban centers shows NNPCL retail outlets adjusting pump prices downward to reflect the reduced wholesale supply rate, with major private marketers like MRS, AP, and independent depot operators across Lagos, Abuja, Port Harcourt, and Warri following suit to maintain competitive positioning.
Industry analysts attribute the price reductions to softening global crude oil prices—with Brent crude slipping toward $100 per barrel—and falling landing costs for refined products, alongside aggressive domestic market share competition between locally refined output and coastal imports.
The downward tariff adjustment offers immediate relief to consumers and commercial transporters who have faced escalating transport fares and inflationary pressure, reinforcing the structural influence of domestic refining capacity on national energy pricing dynamics.
