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Nigerian petrol prices have dropped to N1,150 per litre amid fierce market competitionNNPCL’s latest reduction marks a total cut of N110 per litre since late June price cutsIndustry analysts predict further price declines if crude oil stays low and competition remains strong
Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
Nigerians are set to enjoy fresh relief at the pumps after the Nigerian National Petroleum Company Limited (NNPCL) reduced the retail price of Premium Motor Spirit (PMS), popularly known as petrol, for the second time in less than two weeks.
The latest adjustment comes amid a sustained decline in global crude oil prices and increasing competition among fuel suppliers, raising hopes that transport fares and the cost of goods could also ease in the coming weeks.
NNPC slashes petrol prices for the second time in two weeks. Credit: Picture Alliance/ContributorSource: Getty Images
NNPCL cuts
