In a major relief for consumers, MRS Oil has reduced the price of Premium Motor Spirit (PMS), commonly known as petrol, from ₦970 to ₦925 per litre in Lagos State.
This price adjustment follows the recent decision by Dangote Refinery to lower its ex-depot price from ₦950 to ₦890 per litre on February 1, 2025.
New Petrol Prices by Region
MRS Oil has announced the following revised retail prices across different regions in Nigeria:
🔹 Lagos State – ₦925 per litre
🔹 South West – ₦935 per litre
🔹 Northern Nigeria – ₦945 per litre
🔹 Eastern Nigeria – ₦955 per litre
Official Announcement
Confirming the price changes on its official X handle, MRS Oil stated:
“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.”
Dangote Refinery’s Influence on Fuel Prices
MRS Oil is an approved distributor of Dangote Refinery’s petroleum products. The company’s recent price reduction is attributed to positive trends in global energy markets and a decline in international crude oil prices.
Speaking on the development, Dangote’s spokesperson, Anthony Chiejina, 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 the price reduction to consumers.
Ex-Depot Price for Bulk Purchases
It was further gathered that the ₦890 per litre ex-depot price applies to marketers purchasing a minimum of 2 million litres or more.
This latest move is expected to ease the financial burden on Nigerians and stabilize fuel prices across the country.
