The pump price of petrol at MRS filling stations, which are linked to Dangote Refinery, has been reduced following recent changes in the downstream oil market.
A market review shows that the price of Premium Motor Spirit (petrol) at MRS outlets in Abuja and surrounding areas has been adjusted to ₦1,241 per litre, down from ₦1,317, representing a reduction of ₦76 per litre or about 5.77 percent.
The price adjustment comes shortly after Dangote Refinery reportedly reduced its ex-depot petrol price by ₦75 per litre, a move attributed to a drop in global crude oil prices below $80 per barrel.
Despite the reduction by the refinery and some retail outlets, several other filling stations in Abuja, including major fuel marketers, are yet to adjust their pump prices in response to the market changes.
Industry observers note that the recent developments in global oil prices and improvements in supply dynamics could lead to further reductions in petrol prices in Nigeria in the coming weeks.
Market analysts continue to monitor how quickly downstream operators align their pump prices with changes from major suppliers and global crude oil trends.
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