The Nigerian National Petroleum Company Limited has reduced the pump price of premium motor spirit for the second time in less than two weeks.

A market survey on Sunday showed that the state-owned oil firm adjusted its petrol price to N1,150 per litre, down from N1,210, reflecting a N60 reduction.

The latest adjustment brings the total reduction by the Nigerian National Petroleum Company Limited to N110 between June 27 and July 5, 2026.

The price cut comes days after the Dangote Refinery announced its fourth gantry price reduction to N1,075 per litre.

Other marketers, including NIPCO, AA Rano and Ranoil, have also adjusted their pump prices to between N1,205 and N1,240 per litre.

The downward trend in fuel prices coincides with a drop in global crude oil benchmarks, with Brent crude trading at about $72 per barrel and West Texas Intermediate at $68 per barrel at the time of reporting.