MRS filling stations, backed by the Dangote Refinery, have increased petrol pump prices nationwide by N100 per liter, effective immediately. The move follows a similar adjustment in the refinery’s gantry price, pushing the retail cost in Abuja to N1,267 per liter from N1,167.
The price hike aligns directly with the Dangote Refinery’s recent increase in its ex-depot price to N1,175 per liter. A station manager, speaking anonymously, confirmed the adjustment to Media Talk Africa, citing the refinery’s higher gantry price as the sole reason.
This development mirrors an earlier increase by Optima Filling Station, which raised its price by N50 to N1,270 per liter. In comparison, retail outlets operated by the Nigerian National Petroleum Company Limited (NNPCL) are currently selling petrol at N1,261 per liter, making them marginally cheaper than both MRS and Optima stations.
Other major marketers in the Abuja region, including AA Rano, NIPCO, Eterna, Mobil, Empire Energy, and Raniol, are dispatching petrol at prices ranging from N1,270 to N1,330 per liter. The widespread adjustments underscore the swift pass-through effect of the Dangote Refinery’s pricing decisions across the downstream sector.
The increases occur amid persistent volatility in the global oil market. Crude oil benchmarks, Brent and West Texas Intermediate (WTI), settled at $97.39 and $103.70 per barrel, respectively, reflecting ongoing geopolitical tensions stemming from the escalation in the Iran-United States-Israel conflict.
The Dangote Refinery’s dominant position as a key domestic supplier means its pricing serves as a critical benchmark for the industry. As such, its gantry price hike has triggered a near-simultaneous upward revision across numerous retail networks, impacting fuel costs for consumers nationwide. NNPCL’s slightly lower retail price suggests a potential divergence in pricing strategies among major marketers as market dynamics shift.
