THE retail price of premium motor spirit popularly known as petrol has been reduced to N965 per litre in the Federal Capital Territory.
Checks on Monday showed that the Nigerian National Petroleum Company Limited, NNPC Ltd, effected the new price across its retail outlets in the capital city, to the delight of customers.
The new price is the second reduction in less than two weeks from N1,060 earlier this month.
At its mega station located on Wuse Zone 4 and Olusegun Obasanjo Way, Central Area, the commodity was sold at N965 per litre with commuters scrambling to join the long queue.
A driver who confirmed the price reduction applauded the national oil firm but called for a uniform price across all stations for easy access.
He said, “Yes, NNPC has reduced its price to N965. I bought it this morning, but the queue is too long. Maybe because other stations are selling at a different price.”
However, independent and major marketers sold their products for between N1,030 and N1,070 across various locations visited by newsmen.
Recall that on Sunday, the Independent Petroleum Marketers Association of Nigeria said that petrol was going to sell at N935 per litre beginning from Monday (today) based on the latest arrangement with the Dangote Petroleum Refinery.
IPMAN’s National President, Maigandi Garima, said the reduction in Dangote refinery’s ex-depot price for petrol and the uniform arrangement being put in place, would enable marketers to sell at N935 in their outlets nationwide, incurring a cost of N36 on logistics.
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