The retail price of premium motor spirit popularly known as petrol, has dropped to N965 per litre in the Federal Capital Territory.
Checks by PUNCH Online on Monday revealed that the Nigerian National Petroleum Company Limited effected the new price across its retail outlets in the capital city, to the delight of customers.
The new amount is the second price drop in less than two weeks from N1,060 earlier this month.
At its mega station located along Wuse Zone 4 and Olusegun Obasanjo Way, Central Area, the price of the commodity was sold at N965 per litre with commuters scrambling to join the long queue.
Recall that on Sunday, the Independent Petroleum Marketers Association of Nigeria said that petrol is going to sell at N935 per litre beginning from Monday (today) based on the latest arrangement with the Dangote Petroleum Refinery.
IPMAN’s National President, Maigandi Garima, said the reduction in Dangote refinery’s ex-depot price for petrol and the uniform arrangement being put in place, would enable marketers to sell at N935 in their outlets nationwide, incurring a cost of N36 on logistics.
