Barely 48 hours after increasing the pump price of Premium Motor Spirit (PMS) popularly known as petrol or fuel, the Nigerian National Petroleum Company Limited (NNPCL) has slashed the price at its retail outlets.

Naijaonpoint understands that as of Wednesday morning, the pump price at several NNPCL stations in Abuja, including those in Gwarinpa, Kubwa Expressway, Wuse Zone 6, and Wuse Zone 4, had been reduced from ₦955 to ₦900 per litre.

Confirming the price adjustment, a fuel attendant at one of the NNPCL outlets in Abuja, who spoke under anonymity, told Daily Post, “On Tuesday, we sold fuel at ₦955 per litre, but it is now ₦900.”

This represents a ₦55 per litre drop after Monday’s hike that pushed the price to ₦955.

Some independent marketers have also adjusted their prices, though not as drastically as NNPCL.

It was observed that Ranoil and Empire Energy stations in Gwarinpa now sell petrol at ₦955 and ₦950 per litre, respectively, down from ₦971 and ₦970.

However, MRS filling stations have maintained their pump price at ₦885, a price first reported earlier in the week.

Naijaonpoint reports that the earlier increase in fuel prices had been attributed to a spike in ex-depot prices, particularly from Dangote Refinery and other private depots.

While NNPCL has now initiated a downward review, it remains unclear whether this will trigger a broader reduction across the country’s filling stations as consumers continue to express concern over the unstable fuel pricing, which has further strained transportation and living costs nationwide.