Breaking News: Fuel Prices to Decrease as NNPCL Lowers Depot Price

In a significant development, the Nigerian National Petroleum Company Limited (NNPCL) has announced a reduction in the depot price of Premium Motor Spirit (PMS), commonly known as petrol. The price is set to drop from N640 per litre to N630 per litre, providing a welcome relief to consumers grappling with high fuel costs.

This decision comes amidst ongoing efforts by the government to mitigate the impact of the subsidy removal on the economy and the populace. The reduction in fuel prices is expected to alleviate the financial burden on Nigerians, particularly in the face of rising inflation and economic challenges.

The move is likely to be welcomed by many Nigerians, as it is expected to result in lower pump prices across the country. This development underscores the government’s commitment to ensuring the welfare of its citizens and stabilizing the economy in the post-subsidy era.