Fuel Prices Crash! Dangote Refinery Partner, MRS, Slashes Petrol Costs – Check New Rates

MRS Oil has announced a reduction in the price of Premium Motor Spirit (PMS), popularly known as petrol, dropping from ₦970 to ₦925 per litre in Lagos State.....KINDLY READ THE FULL STORY HERE▶

This price cut comes on the heels of Dangote Refinery’s recent move to lower its ex-depot petrol price from ₦950 to ₦890 per litre, effective February 1.

New Regional Prices:

• Lagos State: ₦925 per litre
• South West: ₦935 per litre
• Northern Nigeria: ₦945 per litre
• Eastern Nigeria: ₦955 per litre

Confirming the adjustments via its official X handle on Monday, MRS Oil stated: “MRS Petrol is now available at new regional prices! While prices may differ by location, our commitment remains the same—delivering high-quality fuel that keeps your engine performing optimally.”

As one of Dangote Refinery’s officially authorized distribution partners, MRS Oil plays a key role in supplying its petroleum products.

On February 1, Dangote Refinery announced a reduction in its ex-depot petrol price from ₦950 to ₦890 per litre. According to Dangote’s spokesperson, Anthony Chiejina, this move reflects favorable shifts in global energy and gas markets, alongside recent declines in international crude oil prices.

Chiejina remarked: “Dangote Petroleum Refinery is confident that reducing the price from ₦950 to ₦890 will lead to a significant drop in petrol costs nationwide. This should lower the prices of goods and services, reduce the overall cost of living, and positively impact various sectors of the economy.”

The refinery also called on marketers to ensure these savings are passed on to consumers. It was noted that the ₦890 per litre ex-depot price applies to marketers purchasing a minimum of 2 million litres or more.