Olushola Omogbehin
Filling stations in different parts of Abuja have significantly reduced their pump price of PMS in order to increase sales.
On Friday, petrol was sold in Abuja and environs at N1,295 per liter from the N1,330 it used to be with N35 reduction per liter
According to Daily Post, the price review is competitive with major players in the country’s petroleum downstream sector, such as Nigerian National Petroleum Company Limited, MRS, AP Ardova, and NIPCO, dispensing petrol at N1290 to N1295 rate for weeks.
The president of the Independent Petroleum Marketers Association of Nigeria, Abubakar Maigandi, in reaction said, the fresh petrol downward adjustment by some filling stations is to boost patronage.
Friday’s crude oil price data showed that West Texas Intermediate and Brent Blends stood at $94 and $105 per barrel due to Strait of Hormuz opening uncertainty.
