Breaking News..Price Of Petrol, Cooking Gas, Crashes Down Nationwide-NNPC

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Wonderful..The Nigerian National Petroleum Corporation (NNPC) has disclosed that their sustained strategic intervention in the efficient supply and distribution of petroleum products, has led to a significant reduction of the prices of premium motor spirit (PMS), also identified as petrol, and liquefied petroleum gas (LPG), also identified as cooking gas, nationwide.

The corporation spokesman, Ndu Ughamadu, Speaking on Sunday, said a national survey by oil and gas forum, NNPC’s Weekly Tv Programme, indicated that in the last few weeks, the price of petrol has fallen steadily from N145 per litre to between N142 and N143 per litre in some stations across the country.

He also said, NNPC mega and affiliate stations across the country are selling for N143 per litre, while the pump price range is between N142 and N145 per litre in some major and independent marketers in Lagos, Abuja, Sokoto, Enugu, Delta and other major citie.

“One of the respondents in the survey and a manager of an independent fuel retail station in Abuja, Mohammed Abdullahi, said the station currently sells petrol at N142 per litre in line with the prevailing market situation in order to sustain the turn over of the business and to attract more motorist to the station, ” he disclosed.

“Another Independent marketer, in Mosimi, Emeka Ikechukwu, said the going ex-depot prices of PMS had dropped from N138 per litre in most depots to N133.28 in NNPC depots and between N130 and N131 per litre in private depots

“However, the situation is slightly diferent in Aba and Umuahia in Abia State and Calabar in Cross River State where most independent fuel stations as well as major marketers selling the product at N145 per litre.

“The survey also showed a similar trend of drop in price for cooking gas with the average price for refilling 5kg cylinder as N2,215.96 from the former price of N2,500.00.

“The study further revealed that states with the lowest average price for the 5kg LPG refill were Kaduna and Niger at N2,000; Kogi at N2,005.00; and Oyo at N2,033.33. ”

Ughamadu also said the prices of cooking gas have also reduced.

“At the NNPC Mega and retail stations nationwide, a 12.5kg of cooking gas that was sold for N3,800 while other retail outlets sell the same quatity for N4,000,” he stated.

“NNPC has sustained its interventions through sustained improvement in the supply of the products and remodeling of distribution channels to address sufficiency issues across the country.”

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