MRS Oil has lowered the price of Premium Motor Spirit (PMS), commonly known as petrol, from ₦970 to ₦925 per litre in Lagos State.
Henzodaily reports that this development follows the Dangote Refinery’s recent decision to reduce its ex-depot petrol price from ₦950 to ₦890 per litre on February 1.
MRS Oil has announced the following adjusted retail prices:
Lagos State: ₦925 per litre
South West: ₦935 per litre
Northern Nigeria: ₦945 per litre
Eastern Nigeria: ₦955 per litre
The company confirmed the price changes on Monday via its official X handle, stating: “MRS Petrol is now selling at new regional prices! The prices may vary, but one thing stays the same—we give you high-quality fuel that keeps your engine running at its best.
“If you notice any station selling above the listed price, we’re just a call or email away.”
MRS Oil is among the officially approved partners of the Dangote Refinery, authorized to distribute its petroleum products.
On February 1, the Dangote Refinery announced an ex-depot petrol price reduction from N950 to N890 per litre.
According to Dangote’s spokesperson, Anthony Chiejina, the adjustment aligns with the positive trends in the global energy and gas markets and the recent decline in international crude oil prices.
He said: “Dangote Petroleum Refinery firmly believes that this reduction from N950 to N890 will result in a meaningful decrease in the cost of petrol nationwide, thereby driving down the prices of goods and services, as well as the overall cost of living, with a positive ripple effect on various sectors of the economy.”
The refinery also urged marketers to pass the benefits of the price reduction to consumers.
It was further gathered that the N890/litre ex-depot price applies to marketers purchasing a minimum of 2 million litres and above.