NNPC filling stations across Nigeria have reportedly crashed the price of Premium Motor Spirit, PMS, otherwise known as petrol, to N580 per litre.
The development has sparked excitement among users of the product.
Before now, a litre of petrol was selling between N660-N690 per litre.
However, findings by NewsNGR have shown that NNPC stations are now selling at N580 nationwide.
Checks by this newspaper have also shown that there are noticeable queues at many NNPC stations in Abuja.
Meanwhile, petroleum product marketers and other operators in the downstream sector have refuted speculations suggesting a downward adjustment in the pump price of petrol at depot facilities.
Reports from LEADERSHIP indicate that petroleum outlets are continuing to sell at prevailing market prices, without any noticeable changes.