Petrol Prices Set to Drop This Week: Insights from PETROAN
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has announced that Nigerians can expect a reduction in petrol prices to take effect within the week.
This development follows the Nigerian National Petroleum Company Limited (NNPCL) lowering its ex-depot price of Premium Motor Spirit (PMS) from ₦1,020 to ₦899 per liter in Lagos.
PETROAN President Billy Gilly-Harry, speaking on Channels Television’s “Sunrise Daily,” confirmed that the price adjustment would soon reflect in the market. He stated, “You’ll see the translation of this reduction of prices in the retail outlets hopefully within the week.”
The reduction is expected to bring relief to motorists and Nigerians during the holiday season. Gilly-Harry emphasized that the move demonstrates NNPCL’s commitment to making petroleum products more affordable.
Additionally, the Dangote Refinery has matched NNPCL’s ex-depot price reduction, setting its price at ₦899 per liter in Lagos. This competitive pricing is anticipated to benefit consumers further.
As the new prices take effect, consumers are advised to monitor local petrol stations for updated pump prices.
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