Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

Nigerian National Petroleum Company Limited (NNPCL) retail stations have reduced petrol prices from N960 to N945 per litre in Lagos.

The price adjustment, which took effect on Thursday, February 13, will mark a slight relief for consumers amid persistent inflation and rising cost of living.

A petrol attendant at NNPC filling station in Ejigbo who confirmed the price change said:

"Yes, this morning (Thursday), we received instructions from the head office to reduce the price from N960 to N945.

You can already see the level of patronage and the long queues."

A commercial driver at the station, Kunle Ademola, said:

"Although petrol price has been reduced, it will have no effect on my fares as the reduction is too small for me to adjust."

Checks on other filling stations, such as Ardova, Mobil, and Petrocam, show no price adjustment.

For Ardova, the price is N970 per litre; Mobil is N960, while Petrocam is N970.

MRS Oil Nigeria Plc has announced a new petrol pump price of N925 per litre across all its filling stations in Lagos.

In a statement released on Monday, February 10, via its official X (formerly Twitter) account, the company detailed its updated regional pricing structure.

According to MRS, petrol will now be sold at N935 per litre in the South West, N945 per litre in the North, and N955 per litre in the South East.

This price adjustment comes just days after Dangote Refinery reduced its ex-depot price to N890 per litre.

Earlier, Legit.ng reported that on February 1, 2025, Dangote Petroleum Refinery announced a reduction in its ex-depot petrol price from N950 to N890 per litre.

The price cut has been attributed to favourable developments in the global energy sector and a notable decline in international crude oil prices.

In a statement, Anthony Chiejina, the group’s Chief Branding and Communications Officer, said the latest reduction follows an earlier price adjustment on January 19, when an increase was implemented due to rising crude oil costs.

However, with global market trends now showing a downturn in crude prices, the refinery has opted to pass the benefits on to Nigerian consumers.

Legit.ng earlier reported that Dangote Refinery has crashed diesel prices to N1,020 per litre from N1,075 at the loading gantry.

The Refinery said the move was to serve its customers and Nigerians better.

This is the third time the plant has reduced diesel prices since it started producing the commodity in January 2024 from N1,700 per litre to the current price.

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Source: Legit.ng