BREAKING! ! Filling Station To Adjust Their Pumps As NNPC Announces News Fuel Price; Details Below
The Nigerian National Petroleum Company Limited (NNPCL) has announced a new price for Premium Motor Spirit (PMS), which will affect marketers looking to source fuel from its refineries.
This latest adjustment is expected to lead pump prices down at filling stations just in time for the festive season, benefiting consumers who are likely to travel more during this period.
” As reported by the Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN), NNPCL has decreased the price of PMS from N1, 045 per litre to N1, 030 per litre for marketers. ”
Billy Harry, the National President of PETROAN, made this announcement during a strategic meeting and award ceremony held in Abuja.
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He conveyed optimism regarding the new pricing, stating, ” Today, NNPCL has reduced their price to N1, 030. ”
Despite this reduction, he noted that marketers are continuing to press the state- owned firm to lower prices further, expressing hope that additional cuts may be forthcoming.
Notably, the price set by NNPCL remains higher than that offered by Dangote Refinery, which recently cut its petrol price to N970 per litre.
This price disparity highlights the competitive landscape within the fuel market. Harry emphasized that the competition generated by such pricing is likely to help reduce fuel costs in the long run, fostering a more favorable environment for consumers.
Furthermore, Harry pointed out that the pricing structure of NNPCL makes it advantageous for retail outlet owners, allowing them to purchase smaller quantities of fuel with greater ease.
He explained, ” We are very close to NNPC because we can go there, buy one product, sell it quickly, and then come back.
But if we have to buy two million litres, we must do so collectively. ” This flexibility could play a crucial role in ensuring that marketers can respond promptly to market demands and maintain competitive pricing for consumers.
As the festive season approaches, the impact of these pricing changes will be closely monitored by both marketers and consumers alike.
