1 week ago
5
Dangote-backed MRS filling stations have reduced their petrol price to N1,318 per litre, making it cheaper than prices offered by the Nigerian National Petroleum Company Limited (NNPCL) and other marketers.
Checks by DAILY POST on Thursday showed that MRS dropped its fuel price from N1,360 to N1,318 per litre across its retail outlets in Abuja.
The price adjustment places the filling station between N12 and N32 cheaper than NNPCL, NIPCO, AA Rano and other petroleum product marketers in Abuja.
Speaking on the development, a station manager at MRS, who preferred anonymity, said the adjusted fuel price was possible because the outlet receives its petrol products directly from Dangote Refinery.
Earlier, NNPCL, NIPCO and AA Rano reduced their retail fuel prices to N1,335, N1,330 and N1,350 per litre, respectively, on Wednesday.
The latest fuel price reduction comes days after Dangote Refinery slashed its petrol and diesel gantry prices nationwide to N1,250 per litre and N1,700 per litre, respectively.
On Thursday, Dangote Refinery ramped up its refining capacity to 700,000 barrels per day, indicating that more petroleum products would be available to Nigeria and other African countries.
Currently, Brent and West Texas Intermediate crude oil prices stand at $95 and $93 per barrel, respectively, as of the time of filing this report.
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