The retail price of premium motor spirit popularly known as petrol, has dropped to ₦965 per litre in the Federal Capital Territory and residents have been reacting.
Checks on Monday revealed that the Nigerian National Petroleum Company Limited effected the new price across its retail outlets in the capital city, to the delight of customers.
The new amount is the second price drop in less than two weeks from ₦1,060 earlier this month.
At its mega station located along Wuse Zone 4 and Olusegun Obasanjo Way, Central Area, the price of the commodity was sold at ₦965 per litre with commuters scrambling to join the long queue.
A driver who confirmed the price drop applauded the national oil firm but called for a uniform across all stations for easy access.
He said, “Yes, NNPC has reduced its price to ₦965. 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 between N1,030 and N1,070 across various locations visited by our correspondent.
Recall that on Sunday, the Independent Petroleum Marketers Association of Nigeria said that petrol is going to sell at ₦935 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 ₦935 in their outlets nationwide, incurring a cost of ₦36 on logistics.
Credit: punchng.com
