The Nigerian National Petroleum Company Limited (NNPCL) has reduced the pump price of Premium Motor Spirit (petrol) by N80 per litre, marking the third downward review in December 2025.
A survey of NNPCL retail outlets in Abuja on Thursday showed that petrol now sells at N835 per litre, down from N915.
The latest adjustment comes on the heels of similar price reviews by independent marketers, including MRS, BOVAS and AA Rano, which recently reduced their pump prices to between N739 and N865 per litre in the Federal Capital Territory.
Industry watchers link the successive price cuts to the decision by Dangote Refinery and depot owners to slash ex-depot prices to a range of N699 to N800 per litre.
NNPCL and other marketers had earlier reduced petrol prices on December 4 and December 10, 2025, reflecting a growing trend of downward price adjustments in the downstream petroleum
NNPCL is yet to issue an official statement on the latest price adjustment, but industry sources confirmed that the reduction was directed from the company’s headquarters.
Motorists in Abuja welcomed the development, describing it as a relief amid rising transportation and living costs, though many said the reduction was yet to reflect in transport fares.
While the new price was observed in Abuja, pump prices in other major cities such as Lagos and Port Harcourt were still being adjusted as of Thursday evening, with variations expected due to logistics and supply costs.
Analysts say sustained price reductions could ease inflationary pressures, particularly in the transport and food sectors, which have been heavily impacted by high energy costs.
The recent price war among marketers has been driven largely by increased domestic refining capacity and competition following the gradual ramp-up of local supply from the Dangote Refinery.
Since the deregulation of the downstream petroleum sector, pump prices have remained largely market-driven, allowing marketers to adjust prices in response to changes in supply.
Market operators say further price adjustments may occur in the coming weeks, depending on crude prices, exchange rate movements and domestic supply stability.
