MRS filling stations, backed by Dangote Refinery, and Nigerian depot owners have reduced their Premium Motor Spirit, PMS, prices.
An MRS filling station manager in Abuja, who preferred anonymity, confirmed that the company had reduced its retail price to N1,399 per litre from N1,408 per litre.
This represents a reduction of N9 per litre in the filling station’s petrol price.
The downward adjustment in MRS filling stations’ retail price comes after depot owners and marketers who received petroleum products from Dangote Refinery reduced their ex-depot prices to N1,215 per litre from as high as N1,290, matching the refinery’s price.
The petrol price reduction comes amid a decline in crude oil prices, with West Texas Intermediate, WTI, and Brent crude trading at $86 and $92 per barrel, respectively, at the time of filing this report.
It has been earlier reported that further reductions in retail petrol prices were imminent amid falling crude oil and imported fuel prices.
This followed the Federal Competition and Consumer Protection Commission, FCCPC’s call on refiners, marketers and depot owners to consider reducing fuel prices.
Nigerian National Petroleum Company Limited, NNPCL, filling stations dispense petrol at N1,325 per litre.
