Oil marketers in Nigeria have reduced the price of petrol by 11.8%, bringing it down to N939.50 per litre, effective December 20, 2024.
This price adjustment comes after a period of fluctuating fuel costs in the country. The reduction follows discussions between the marketers and the Nigerian National Petroleum Corporation (NNPC), which resulted in the decision to lower fuel prices for consumers.
The new price offers some relief to Nigerians, who have been grappling with high fuel costs in recent months.
However, it remains significantly higher than the prices seen earlier in the year. The price reduction is expected to help ease the financial burden on many Nigerians, especially with the upcoming festive season.
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