Several Nigerian filling stations have lowered their Premium Motor Spirit (PMS) pump prices as competition intensifies amid a broader decline in petrol prices nationwide. On Wednesday morning, Ranoil, the Nigerian Independent Petroleum Company (NIPCO), Empire Filling Stations and other outlets in Abuja and surrounding areas were selling petrol for between N1,275 and N1,299 per litre, down from N1,300 to N1,310. The latest cuts represent reductions of N11 to N25 per litre.
The move follows price reviews by the Nigerian National Petroleum Company Limited (NNPCL), AA Rano and other retailers two days earlier. Dangote Refinery had also reduced its petrol price by N50 a litre a week ago, bringing it to N1,165 from N1,210.
