MRS Oil has reduced the pump price of petrol to ₦925 per litre at its stations in Lagos, bringing slight relief to motorists and businesses.
For residents and business owners in Amuwo-Odofin, this price cut could lead to lower transportation costs. This is particularly beneficial for ride-hailing drivers, logistics operators, and small businesses that depend on fuel. However, many are still hoping for further reductions to ease the ongoing economic hardship.
MRS, on its X handle on Monday, said the product is now selling at new regional prices. The company said it reduced the price from N970 to N925 in Lagos. It also said petrol will be sold at N935 per litre in the south west. In the north, it will be sold at N945. In the east, the price will be N955.
The drop in the pump price of PMS comes more than one week after Dangote refinery reduced its ex-depot price for petrol from N950 per litre to N890.
In a statement by Anthony Chiejina, group chief branding and communications officer, on February 1, the refinery said the adjustment was a direct response to “the positive outlook within the global energy and gas markets, as well as the recent reduction in international crude oil prices”.
Do you think this price slash will make a real difference? Drop your thoughts in the comments!