MRS Oil Nigeria Plc has announced a reduction in the prices of Premium Motor Spirit (PMS), popularly known as petrol across in the country.
Announcing the reduction on its official X handle on Monday, the company said petrol will now be sold at ₦925 per litre in Lagos, reflecting a drop from the previous price of ₦970 per litre.
The revised pricing structure also affects other part of the South-West where the product will sell for ₦935; North in the ₦945, and ₦955 in the South-East per litre, respectively.
MRS assured customers of its commitment to fair pricing and encouraged them to report any station selling above the stipulated rates.
“MRS Petrol is now selling at new regional prices! The prices may vary,” the company wrote.
“If you notice any station selling above the listed price, we’re just a call or email away.”
LEADERSHIP reports that this adjustment came just over a week after Dangote Refinery reduced its ex-depot petrol price from ₦950 per litre to ₦890 per litre.
On February 1, the Group Chief Branding and Communications Officer of Dangote Refinery, Anthony Chiejina, explained that the price adjustment was influenced by global energy trends.
“The adjustment was a direct response to the positive outlook within the global energy and gas markets, as well as the recent reduction in international crude oil prices,” Chiejina stated.
MRS Oil, alongside Ardova and Heyden, is a key partner of Dangote Refinery, which recently began local supply of petrol to reduce Nigeria’s dependence on fuel imports.