MRS Oil – one of the petroleum downstream distribution companies, has reduced the price of Premium Motor Spirit (PMS), commonly known as petrol, from ₦970 to ₦925 per litre in Lagos State.
This follows Dangote Refinery‘s recent ex-depot price cut from ₦950 to ₦890 per litre on February 1.
Other Regional Prices Announced
The company announced new regional prices: ₦935 per litre in the South West, ₦945 in the North, and ₦955 in the East.
MRS Oil assured customers of high-quality fuel and encouraged reporting any stations selling above the listed prices.
Dangote Refinery’s Strategic Adjustment
Dangote Petroleum Refinery’s Group Chief Branding and Communications Officer, Anthony Chiejina, said it made its price adjustment due to positive trends in the global energy and gas markets and a reduction in international crude oil prices.
READ ALSO | NNPC Set New Petrol Price to ₦899 Per Litre, Sparking Price War With Dangote
Dangote’s refinery, considered the world’s largest said it hopes to further decrease petrol costs nationwide. That could help lower the prices of goods and services and the overall cost of living.
It also called on marketers to ensure that consumers benefit from the price reduction by reflecting the adjustments on their dispensation pumps.
However, the ₦890 per litre ex-depot price applies to marketers purchasing a minimum of 2 million litres or more.
MRS Oil, a partner of Dangote Refinery, is officially endorsed to sell its petroleum products. The company says it remains committed to fair pricing and high-quality fuel.
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