The Nigerian National Petroleum Company Limited, (NNPCL), has reduced the price of Premium Motor Spirit (petrol) across its retail outlets in Nigeria.

When GALAXY TV visited some NNPC mega stations in Ikeja, it was discovered that the pump price has changed from what it used to be downward to #1015 per liter while other retail outlets are still selling at #1060 per liter.

Some Nigerians speculated that the development is the result of the Port Harcourt refinery which was reinvigorated and started operation about three weeks ago.

This reduction in pump price to N1,15 per litre at the period is a welcome development considering the effect of petroleum pricing to the cost of good and services in Nigeria.