In a significant move that offers some relief to Nigerians, MRS Oil has reduced the price of Premium Motor Spirit (PMS), commonly known as petrol.
The new pricing structure, which took effect recently, sees petrol now selling at ₦925 per litre in Lagos State, down from its previous cost of ₦970 per litre. 
The price adjustment follows Dangote Refinery’s decision to lower its ex-depot petrol price from ₦950 to ₦890 per litre on February 1.
As a result, MRS Oil, a key distributor of Dangote’s petroleum products, has revised its retail prices across different regions of the country.
While Lagos residents will now pay ₦925 per litre, petrol prices in South West, Northern, and Eastern Nigeria have been adjusted to ₦935, ₦945, and ₦955 per litre, respectively.
Confirming the new pricing structure, MRS Oil announced on its official X (formerly Twitter) handle, stating:
“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.”
The company also encouraged customers to report any stations selling above the listed prices, ensuring that consumers fully benefit from the reduction.
This development comes at a time when many Nigerians are struggling with rising living costs.
However, Dangote Refinery believes the lower petrol prices will ease economic pressure on consumers.
According to Dangote’s spokesperson, Anthony Chiejina, “Dangote Petroleum Refinery firmly believes that this reduction from ₦950 to ₦890 will lead to a significant decrease in petrol costs nationwide, ultimately lowering the prices of goods and services and reducing the overall cost of living, with positive ripple effects across various sectors of the economy.”
Furthermore, the refinery has urged marketers to pass on the benefits of this price reduction to consumers.
To access the new ex-depot price of ₦890 per litre, marketers are required to purchase a minimum of 2 million litres or more.
Meanwhile, this price adjustment is expected to bring some relief to commuters, businesses, and workers who have been burdened by high transportation costs.
With the fuel price reduction, many Nigerians hope that economic relief will follow, making daily expenses slightly more manageable.
As the government continues to explore ways to stabilize the economy, this move by Dangote Refinery and MRS Oil is seen as a positive step in the right direction.
