The price of gasoline at its retail locations has been lowered by the Nigerian National Petroleum Company Limited to N1,130 per litre in Lagos and N1,165 per litre in Abuja. 

The new prices are N95 less than N1,260 per litre in Abuja and N100 less than N1,230 per litre in Lagos. Checks revealed that a number of NNPC retail locations in Lagos, including those on Isheri Oshun Road, Apple Junction, and Ago Palace Way, were dispensing the updated pricing. 

Checks revealed that a number of NNPC retail locations in Lagos, including those on Isheri Oshun Road, Apple Junction, and Ago Palace Way, were dispensing the updated pricing.

In the Federal Capital Territory, several stations run by the national oil corporation were charging N1,165 per litre for gasoline. These stations were located in Jabi, Lifecamp, Wuse Zone 5, and Wuse Zone 4. 

The price change comes after the Dangote Refinery recently cut the ex-gantry price of gasoline to N1,075 per litre in response to declining oil prices worldwide. 

Brent oil prices saw a dramatic reversal on Tuesday, dropping by almost 27% from the day's high of $119 per barrel to roughly $87 per barrel, according to OilPrice.com. 

Similarly, the price of fuel at the gantry has dropped from N1,620 per litre to N1,430 per litre, a decrease of N190.

Source