MRS Filling Station Confirms New Fuel Price As NNPC, Others Make Pump Adjustments
- Filling stations across the country have made adjustments to the pump price of petrol for their customers
- NNPC and other independent marketers have all reduced petrol prices, with MRS confirming their changes
- There have been expectations that fuel prices will drop further as international crude oil prices drop again
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Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Nigerians are breathing easier as filling stations across the country maintain their pump price of petrol below N1,000 per litre.
This follows the yuletide price slash from the Nigerian National Petroleum Company (NNPC) Limited and Dangote Petroleum Refinery.
There were fears that petrol prices in the country would rise above N1,000 per litre after the Christmas and New Year holidays.
Source: Getty Images
Legit.ng reported that the Dangote Refinery announced a Season's Bonanza, offering buyers a minimum of 2 million litres at N899.50 per litre with an additional equal volume on credit, payable within 15 days, backed by a bank guarantee from Access Bank, First Bank, or Zenith Bank, all interest-free.
The refinery partnered with MRS Oil Nigeria Plc to enable Nigerians to buy fuel at affordable prices. A few days later, the NNPC Limited made a similar adjustment, further reducing the price to below N900.
Filling stations continue to sell below N1,000
Checks at various filling stations in Lagos have shown that fuel continues to sell below N1,000 at the pumps.
A fuel attendant at Ardova filling stations, who gave her name as Vicky, told Legit.ng:
"Yes, our pumps remain the same from the December period when the price slash was first announced. Our pump price is N920 per litre since December 24 and the management have not made any changes."
Ardova Plc and Heyden Petroleum recently struck a deal with Dangote Refinery to sell petroleum products at affordable prices at their filling stations.
Mobil retail station visited was seen dispensing fuel to customers at N940 per litre.
A commercial driver, Tayo Alabi said:
"Honestly, I was initially worried that prices would rise above N1,000 after the holidays, but most stations I buy fuel from have not changed their prices. It is even cheaper at NNPC retail stations. We are really hoping for a further drop."
MRS Oil Nigeria Plc also used social media to remind Nigerians that its yuletide price slash remains in effect.
A message posted on X stated:
"MRS petrol is still available at N935 per litre. Kindly visit any of our stations across the country and fuel up with confidence. If you encounter a different price at any of our stations, please give us a call or send an email."
IPMAN promises lower fuel price
In a related development, Legit.ng also reported the Independent Petroleum Marketers Association of Nigeria (IPMAN) had given Nigerians assurances about cheaper fuel prices.
The association said there was a uniform price agreement with Dangote Refinery that would help make this possible. IPMAN boss Maigandi Garima outlined the expected chances to the costs.
Proofreading by James, Ojo Adakole, journalist and copy editor at Legit.ng.
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Source: Legit.ng
