The Nigerian National Petroleum Company Limited, NNPCL, has reduced the pump price of Premium Motor Spirit, PMS, also known as petrol.
A market survey on Wednesday morning showed that NNPCL outlets in parts of Lagos, Abuja and some areas had adjusted their petrol pump price downward to N1,370 per litre from N1,395 per litre.
This means that the state-owned oil company reduced its fuel price by N25 per litre.
It would be recalled that some filling stations had adjusted their fuel price two days ago to N1,370 per litre after Dangote Refinery cut its gantry petrol price by N25 to N1,325 per litre.
Statistics show that crude oil prices stood at $103 and $90 per barrel for Brent and West Texas Intermediate, WTI, crude blends, respectively, as at Wednesday afternoon.