Dangote refinery partner MRS lowers petrol price – see the new fuel cost

MRS Oil has reduced the price of Premium Motor Spirit (PMS), commonly known as petrol, from ₦970 to ₦925 per litre in Lagos State.

According to reports, this price adjustment comes after the Dangote Refinery lowered its ex-depot petrol price from ₦950 to ₦890 per litre on February 1. MRS Oil has now announced the following revised 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 one of the officially approved partners of the Dangote Refinery, authorized to distribute its petroleum products. On February 1, the Dangote Refinery announced a reduction in its ex-depot petrol price, lowering it from ₦950 to ₦890 per litre.

According to Dangote’s spokesperson, Anthony Chiejina, this adjustment reflects positive trends in the global energy and gas markets, as well as the recent decline in international crude oil prices.

He stated, “Dangote Petroleum Refinery firmly believes that this reduction from ₦950 to ₦890 will lead to a significant decrease in petrol costs nationwide, ultimately lowering the prices of goods and services and reducing the overall cost of living, with positive ripple effects across various sectors of the economy.”

The refinery also urged marketers to pass on the benefits of this price reduction to consumers.

Additionally, it was gathered that the ₦890 per litre ex-depot price applies to marketers purchasing a minimum of 2 million litres or more.