MRS Oil Nigeria Releases New Fuel Price List, Lagos Residents to Pay 925 Per Liter

• MRS Oil Nigeria has announced a reduction in petrol prices by N10 per litre across all its stations nationwide
• The company has also released a breakdown of prices by region and a hotline for customers to report stations
• MRS's new prices follow the decision of Dangote refinery to slash ex-depot prices for marketers

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.

MRS Oil Nigeria Plc has announced a new pump price of N925 per litre for Premium Motor Spirit (PMS), commonly known as petrol, across all its filling stations in Lagos.

This price adjustment comes just days after the Dangote Refinery, a key partner of MRS, reduced its ex-depot price to N890 per litre.

In a statement released on Monday, February 10 via its official X (formerly Twitter) account, MRS outlined new regional pricing structures.

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According to the company, petrol will now be sold at N935 per litre in the South West, N945 per litre in the North, and N955 per litre in the South East region.

The statement reads:

“The prices may vary, but one thing stays the same—we give you high-quality fuel that keeps your engine running at its best,”

"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.

"Our petrol contains less sulphur to help your engine perform better."

To ensure enforcement, the energy company also asked customers to report any of its filling stations where there are price discrepancies.

MRS added:

“If you notice any station selling above the listed price, we’re just a call or email away. www.mrsoilnigplc.net Customer Service Line: (+234) 809 030 0000”

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Dangote Refinery ex-depot prices

Legit.ng reported that on February 1, 2025, Dangote Petroleum Refinery announced a reduction in its ex-depot price of petrol from N950 to N890 per litre.

This price cut is attributed to favourable developments in the global energy sector and a notable decline in international crude oil prices.

A statement from the Group’s Chief Branding and Communications Officer, Anthony Chiejina, said that the latest reduction follows an earlier price adjustment on January 19, when an increase was implemented due to rising crude oil costs.

However, with recent global market trends indicating a downturn in crude prices, the refinery has opted to pass the benefits on to Nigerian consumers, BusinessDay reports.

The statement noted:

“Dangote Petroleum Refinery firmly believes that this reduction from N950 to N890 will result in a meaningful decrease in the cost of petrol nationwide, thereby driving down the prices of goods and services, as well as the overall cost of living, with a positive ripple effect on various sectors of the economy."

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The refinery further urged petroleum marketers to ensure that the benefits of the reduced price reach the Nigerian public.

New petrol prices as oil falls

Legit.ng earlier reported that oil prices dipped on Monday, January 27, 2025, after US President, Donald Trump, asked the global oil cartel, the Organisation of Petroleum Exporting Countries (OPEC), to scale down prices amid wide-ranging measures to boost US oil and gas production.

Brent Crude fell by 53 cents, or 0.68% to $77.97 per barrel after rising 21 cents on Friday, January 24, 2025.

While, West Texas Intermediate (WTI) crude sold at $74.16 per barrel, falling 50 cents or 0,67%.

Source: Legit.ng