MRS Oil Nigeria Plc, one of the major distributors of Dangote Refinery products, has increased the pump price of Premium Motor Spirit (PMS) to N925 per litre in Lagos, up from N885 earlier on Friday.
In a statement shared on its official X handle on Saturday, MRS confirmed that the new price adjustment follows the Dangote Refinery’s decision to raise its ex-depot price from N825 to N880 per litre.
Elsewhere across the country, MRS customers will now pay varying rates:
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N955 per litre in the Southeast and Northeast
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N935 per litre in Ogun, Oyo, Ondo, Osun, and Ekiti States
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N945 per litre in the North Central and North West regions
The price adjustment took effect nationwide on June 21, 2025, as per MRS’s announcement urging customers to check updated pump prices at their outlets.
The latest increase by MRS is expected to trigger similar price hikes from other Dangote refinery marketers, including Heyden Petroleum and AP Oil, according to market analysts.
This comes despite a dip in global crude oil benchmarks, such as Brent crude and WTI, raising concerns over petrol affordability in Nigeria’s deregulated downstream sector.
Earlier, Festus Osifo, President of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), condemned the price surge, accusing marketers of exploiting consumers and insisting that PMS pump prices should remain between N700 and N750 per litre, citing falling international crude prices.
Osifo urged regulators to investigate the growing disparity between global crude costs and local pump prices to protect struggling Nigerians from excessive fuel expenses.