The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has said the Nigerian National Petroleum Company Limited (NNPCL) has cut down prices of Premium Motor Spirit (PMS) below ₦1,000 per litre.
According to PETROAN’s National Public Relations Officer, Dr Joseph Obele, on Saturday, the competitive impact of deregulation in the downstream sector informed the organisation’s decision to reduce its price.
“The move is expected to spark a price war among oil marketers, ultimately benefiting consumers,” he said.
Obele revealed that NNPCL reduced the ex-depot price of Premium Motor Spirit (PMS) from ₦1,020 to ₦899 per litre.
He expressed optimism that PMS prices will drop further before the end of January 2025 due to the global decline in crude oil prices and the naira’s recent gain against the dollar
A document released by the NNPCL commercial department…
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