Fuel price reduced to N557 per liter

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The Nigerian National Petroleum Company (NNPC) Limited has ordered all oil marketers to adjust the retail price for premium motor spirit (PMS) to a range between N488 to N557 per litre across Nigeria.

The order came to marketers on Wednesday, citing Management approval of the upward review of NNPC petrol pump price table for mega, standard and leased filling stations.

Against this backdrop, a new table containing the retail prices for the different geopolitical zones in the country is set to be implemented by retail managers with immediate effect.

The new price schedule reveals that petrol will be sold at the highest prices in Maiduguri and Damaturu at N557 per litre and N550 per litre in the rest of the Northern Zone of Nigeria.

It also shows that consumers in the South-East will buy at an average of N520 per litre, while the South-South Zone will get the product at N511 per litre, except in Uyo and Yenegoa, where petrol will now be sold at N515 per litre.

According to the list, the South-West Zone of the country will get the product at N500 per litre, except for consumers in Lagos, who will buy at N488 per litre.

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