Nigerian fuel retailer MRS has lifted its pump price for Premium Motor Spirit (PMS) once again, raising the cost for motorists in Abuja and surrounding areas.
Quick facts
- MRS’s Abuja-area price rose from N1,310 to N1,395 per litre.
- The increase amounts to N85 per litre.
- Dangote Refinery raised its petrol gantry price to N1,350 per litre on Friday.
- Brent crude was priced at $104 a barrel, while WTI stood at $100.
A market check conducted on Saturday found that MRS had moved its retail rate to N1,395 per litre, up from N1,310. The adjustment adds N85 to the price paid at the pump.
The move followed Dangote Refinery’s decision on Friday to increase its gantry charge by N85, taking it from N1,265 to N1,350 per litre. The refinery’s change came as international crude prices climbed above $100 a barrel.
MRS and other fuel retailers had previously set prices within a range of N1,310 to N1,350 per litre. After MRS’s latest revision, petrol in Abuja and nearby areas is selling for between N1,345 and N1,395 per litre.
At the time of reporting, Brent crude traded at $104 per barrel and West Texas Intermediate was quoted at $100 per barrel.
