The Nigerian National Petroleum Company Limited (NNPCL) has reduced the pump price of Premium Motor Spirit (PMS) across its outlets, following a fresh cut in ex-depot prices by Dangote Refinery and several major depot operators.

According to POLITICS NIGERIA, on Thursday revealed that the state-owned oil company has introduced new pump prices across its retail outlets.

At several NNPCL filling stations in Abuja — including Kubwa Expressway, Gwarimpa, Wuse Zone 4 and Zone 6 — petrol now sells for N930 per litre, down from N945.

Motorists confirmed the change as attendants updated pump displays earlier in the day.

Independent marketers also responded swiftly. Ranoil in Gwarimpa reviewed its price to N935 per litre from N940, while MRS and AP Ardova stations around the city are now dispensing PMS between N930 and N935. The adjustments reflect a broader shift triggered by lower wholesale costs.

Dangote Refinery, Pinnacle, Aiteo and other depot owners set the tone earlier on Thursday after reducing their ex-depot prices by at least N10 per litre, bringing rates to between N844 and N846.

Their decision has begun to reshape the downstream market, leading to widespread revisions at retail stations.

Industry players say the new pricing could be the beginning of a more competitive market phase.

There is growing speculation that the ongoing price competition among refiners and depot operators might push pump prices further down in the days ahead.

For many Nigerians, especially in urban centres where transportation costs remain high, the latest cut offers slight relief.

However, consumers still hope for a more significant drop as competition strengthens and supply stabilises.