The Nigerian National Petroleum Company Limited (NNPCL) has reduced the pump price of premium motor spirit (petrol) to N1,150 per litre, marking its second price cut in less than two weeks.
A market survey on Sunday confirmed that the new price reflects a N60 reduction from the previous N1,210 per litre.
In total, NNPCL has lowered petrol prices by N110 between June 27 and July 5, 2026.
The latest adjustment comes shortly after the Dangote Refinery announced a further reduction in its gantry price to N1,075 per litre, its fourth cut in recent weeks.
Other marketers, including NIPCO, AA Rano, and Ranoil, have also revised their pump prices downward, now selling between N1,205 and N1,240 per litre.
The price reductions across the sector follow a decline in global crude oil benchmarks, with Brent crude trading at about $72 per barrel and West Texas Intermediate at $68 at the time of reporting.
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