Fuel marketers linked to Dangote have cut petrol prices at their retail stations to N1,318 per litre in Abuja, undercutting pricing from Nigeria’s national oil marketing arm and several other companies. The move highlights how tighter supply and refinery output are starting to show up at the pump, with crude markets also remaining relatively firm.
MRS slashes petrol price in Abuja
On Thursday, checks in Abuja found that MRS reduced its retail petrol price from N1,360 to N1,318 per litre across its filling stations. With the new figure in place, the company’s pricing sits below the rates offered by NNPCL and other marketers operating in the capital.
- MRS petrol price in Abuja: N1,318 per litre (down from N1,360)
- Compared with NNPCL, NIPCO, AA Rano and other marketers, MRS is positioned between N12 and N32 cheaper per litre
Why MRS can offer a lower rate
A station manager at MRS, who requested anonymity, said the outlet is able to set the reduced price because it supplies petrol directly from Dangote Refinery. The pricing mechanism contrasts with distributors that depend on different supply channels or pricing structures.
The development also follows earlier price moves by other marketers. On Wednesday, NNPCL, NIPCO and AA Rano had lowered their retail petrol prices to N1,335, N1,330 and N1,350 per litre, respectively.
Dangote refinery actions and crude oil backdrop
The latest retail reduction comes only days after Dangote Refinery cut its petrol and diesel gantry prices across the country to N1,250 per litre and N1,700 per litre, respectively. On Thursday, the refinery also increased its refining capacity to 700,000 barrels per day, a change that market watchers typically associate with greater availability of refined products for Nigeria and other African destinations.
At the time of reporting, global benchmark crude prices were supported but not elevated sharply: Brent was at $95 per barrel and West Texas Intermediate was at $93 per barrel.
