Major fuel retailers slashed petrol prices on Wednesday across Abuja and other Nigerian cities. The move followed Dangote Refinery's recent decision to lower its own fuel rates.
NNPCL cut its pump price to N1,335 per litre from N1,364. That's a drop of N29 per litre at the national oil company's outlets.
Other marketers also trimmed costs significantly. NIPCO and AA Rano reduced theirs to N1,330 and N1,350 per litre respectively.
NIPCO's cut amounted to N20 per litre. AA Rano brought theirs down by the same margin.
Dangote Refinery had slashed gantry rates by N25 per litre late last month. That triggered the cascade of price reductions at retail pumps nationwide.
Industry observers expect more stations to follow suit soon. The Independent Petroleum Marketers Association president predicted cuts would accelerate as retailers received fresh supplies from the 650,000-barrel-per-day facility.
