NNPC Petrol Price Cut: Stations Drop Rates to N1,110 Per Litre

The NNPC petrol price cut has brought fresh relief to Nigerian motorists this week. On Monday, July 13, the Nigerian National Petroleum Company Limited (NNPCL) lowered pump prices at its retail outlets from N1,170 to N1,110 per litre. As a result, drivers across the country are already feeling the difference at the pump.

Legit.ng confirmed the new pricing directly at NNPC filling stations. Interestingly, this move mirrors a broader trend, since Dangote Refinery recently adjusted its gantry price to N1,075 per litre, and several importers have matched that lower rate too.

What’s Driving the NNPC Petrol Price Cut

Data from Petroleumprice.ng revealed that Aiteo currently offers the lowest rate among major depots, selling petrol at N1,074 per litre. Meanwhile, African Terminal, AIPEC, Ascon, Heyden, Mao, Pinnacle, and Sahara all price their petrol at N1,075 per litre. That figure sits N1 below Dangote Refinery’s own Monday rate of N1,076 per litre.

Other major marketers, including Ardova, MRS, NIPCO, and Techno Oil, are matching Dangote’s ex-depot price exactly. Consequently, these depot-level reductions have already trickled down into retail pricing nationwide.

In Abuja and its surrounding areas, filling stations now sell petrol for between N1,150 and N1,205 per litre. That’s a sharp drop from the N1,317 to N1,336 range recorded on June 18, marking a decline of between N131 and N167 per litre within roughly three weeks. Similarly, in Lagos, stations like MRS now sell petrol at N1,135 per litre, down from over N1,200 previously.

Industry Voices Explain the Petrol Price Trend

Chinedu Ukadike, Public Relations Officer of the Independent Petroleum Marketers Association of Nigeria (IPMAN), linked the shift directly to global oil market movements. He told Legit.ng that a drop in the international market naturally triggers a corresponding drop in local petrol prices, since domestic pricing tracks the cost of crude oil. He also explained that marketers calculate their logistics costs based on whatever gantry price is in effect at the time.

However, industry stakeholders caution that these lower prices might not last. Ongoing developments in the Middle East continue to sway global oil markets, and that uncertainty could easily reverse the current downward trend.

As of Saturday, Brent crude traded near $76 per barrel, while West Texas Intermediate (WTI) sat around $71. Both benchmarks eased slightly after earlier spikes tied to renewed tensions between the United States and Iran. Analysts warn that any sustained rebound in crude prices could push Nigeria’s petrol prices back upward just as quickly as they fell.

NMDPRA Moves to Calm Supply Fears

Separately, Legit.ng previously reported that the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) reassured citizens that the country holds sufficient petroleum stocks to meet local demand. The regulator urged motorists to avoid panic buying or stockpiling fuel, stressing that no supply threat exists nationwide.

According to NMDPRA, current volumes of petrol (PMS), diesel (AGO), and liquefied petroleum gas (LPG) remain adequate to cover consumption levels across Nigeria.

For now, motorists nationwide can enjoy the reduced rates, though experts advise watching global crude trends closely, since any shift in the Middle East situation could quickly change the picture again.

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