The trail refinery cuts the petrol price to N835 – Thage

By Ayo Kehinde

The oil oil refinery has announced a further reduction in the price of premium Motor Spirit (PMS) gantry price, commonly known as petrol, from N865 to N835 per liter.

This marks the second review downwards in less than a week, after last Thursday refinery reduced the price from N880 to N865 per liter.

In a related development, the Nigerian National Petroleum Company Limited (NNPCL) on Wednesday has also adequate its price of the pump, announcing a new N910 per liter rate, decreasing compared to the previous N925 per liter – an N15 reduction.

The upholstery revisions of the refinery of the Dangote’s refinery and the NNPCL arrive in the wake of an prolonged decline of the global raw prices, which have fallen to $ 64 per barrel from over $ 70 in recent weeks.

Prices are expected to facilitate a part of the pressure on consumers, between the increase in inflation and the wider crisis in the cost of living.

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