The Nigerian National Petroleum Company Limited (NNPCL) reduces its premium motor spirit (petrol) pump price for the second time in less than two weeks, according to market checks reported by multiple outlets. A survey indicates that NNPCL retail outlets now sell petrol at ₦1,150 per litre, down from ₦1,210. The change is described as a ₦60 reduction from the previous price.
One report says the latest cut continues a broader downward movement in the period between June 27 and July 5, 2026, bringing the total reduction in that span to ₦110. The price adjustments are placed in the context of other fuel market changes, including a reported fourth gantry price cut by Dangote Refinery, which lowers its rate to about ₦1,075 per litre, and pump price reductions by other marketers such as NIPCO and Ranoil, which are reported to be selling between ₦1,205 and ₦1,240.
The reports also link the overall decline in fuel prices to easing global crude oil benchmarks, with Brent and West Texas Intermediate falling to $72 and $68 per barrel respectively.
