Nigerian National Petroleum Company Limited and several filling stations have reduced petrol pump prices following a recent cut in gantry prices by Dangote Refinery.

A market survey conducted in Abuja on Wednesday showed that NNPCL retail outlets reduced the price of premium motor spirit (PMS) to ₦1,335 per litre from ₦1,364.

Other marketers, including NIPCO and AA Rano, also adjusted their pump prices downward to between ₦1,330 and ₦1,350 per litre from previous rates of about ₦1,350 and ₦1,370.

The latest adjustment represents a reduction of between ₦20 and ₦29 per litre, depending on the retail outlet.

The price changes come days after Dangote Refinery reduced its petrol gantry price by ₦25 per litre late last month.

Industry observers say the refinery’s price cut has begun influencing retail fuel prices across parts of the country as marketers receive fresh supplies.

The President of the Independent Petroleum Marketers Association of Nigeria (IPMAN) had earlier indicated that more filling stations would likely lower their pump prices once they begin lifting new stock from the 650,000-barrel-per-day refinery.

The development is expected to provide some relief to motorists and consumers facing rising transportation and living costs.