Petrol prices have risen across Abuja after Dangote Refinery increased its wholesale, or gantry, rate, pushing pump prices at MRS and other filling stations higher amid Brent crude trading above $94 a barrel.
Key takeaways
- MRS stations in Abuja raised petrol to N1,230 per litre from N1,210.
- Prices at other major retailers, including NNPCL, Rainoil, Empire Energy and NIPCO, stood between N1,250 and N1,299 per litre.
- An MRS station manager said the N20 increase was ordered by the company’s Lagos headquarters, without an explanation.
- Dangote Refinery lifted its gantry price to N1,185 per litre from N1,165.
- The latest increase follows cuts of at least N90 per litre by filling stations in recent weeks.
Abuja pump prices move higher
MRS filling stations backed by Dangote Refinery, along with other retailers in parts of the Federal Capital Territory, have increased their pump prices for Premium Motor Spirit, commonly known as petrol. Market checks conducted on Saturday found that MRS outlets on Kubwa Expressway, Lugbe Expressway and elsewhere in Abuja were selling the product at N1,230 per litre, compared with N1,210 previously.
Prices at other stations, including Nigerian National Petroleum Company Limited outlets, Rainoil, Empire Energy and Nigerian Independent Petroleum Company, had also been revised, ranging from N1,250 to N1,299 per litre. The changes represent a N20-per-litre increase at the affected filling stations.
A manager at an MRS outlet said the instruction had come directly from the company’s head office in Lagos. He said the station received the order on Friday to move its price up by N20 to N1,230 per litre, but was not given a reason for the decision.
Refinery pricing and crude market pressure
The retail adjustment followed Dangote Refinery’s decision on Friday to raise its petrol gantry price to N1,185 per litre from N1,165. As a result, motorists in Abuja and surrounding areas now face pump prices of between N1,230 and N1,299 per litre.
The increase comes as Brent crude prices climbed above $94 a barrel, adding pressure to fuel pricing in a market where local pump rates have recently been closely linked to refinery and international oil-price movements. Over the preceding few weeks, filling stations had cut petrol prices by at least N90 per litre after Dangote Refinery implemented an earlier reduction in its gantry rate.
