See more as MRS and other filling stations announce new fuel prices

• In effect to the Dangote Refinery's suspension of petrol income successful naira, filling stations person started adjusting their substance pump prices
• Across the country, nary filling presumption is selling substance astatine N860 per litre but for NNPC Limited retail stations
• There are expectations that substance prices could deed N1,000 per litre successful the days up unless a woody connected the crude-to-naira statement is reached

Legit.ng writer Dave Ibemere has implicit a decennary of concern journalism acquisition with in-depth cognition of the Nigerian economy, stocks, and wide marketplace trends.

MRS Oil and different filling stations person implemented a caller pricing structure, importantly raising pump prices crossed Nigeria.

MRS oil, which is 1 of the Dangote refinery partners for inexpensive fuel, has connected Friday, March 28, 2025, acceptable the pump terms astatine N930 per litre successful Lagos, portion residents successful bluish regions look an adjacent steeper outgo of N960 per litre.

Fuel prices astatine filling stations increase Photo credit: Bloomberg/contributor
Source: Getty Images

This accommodation marks a crisp summation from erstwhile rates, with Lagos seeing a emergence of N70 from the erstwhile N860 per litre, and bluish states experiencing an N80 hike from the erstwhile N880 per litre.

Other filling stations person swiftly followed suit, mirroring MRS's pricing strategy.

Fuel stations specified arsenic Mobil, Matrix, among others, person accrued their substance prices.

Reports bespeak that NIPCO, operating successful Magboro, Ogun State, besides sold petrol astatine the caller complaint of N930 per litre implicit the weekend.

Punch reports that MRS Oil said it volition beryllium sourced from the Lagos depot and distributed nationwide, with varying costs reflecting determination differences.

Southern states extracurricular Lagos, including the South-West and Kwara, volition present wage N940 per litre, portion states successful the South-South and South-East, specified arsenic Edo, Abia, and Rivers, look a complaint of N960 per litre.

The North experiences a scope of prices, with rates acceptable astatine N950 per litre for immoderate states and N960 per litre for others.

Nigerians to wage much to bargain fuel Photo credit: Bloomberg/contributor
Source: Getty Images

Why substance prices increased?

The improvement followed Dangote Refinery's determination to halt the sale of petrol successful naira, citing a mismatch betwixt income proceeds and crude lipid acquisition obligations.

Dangote said:

"To date, our income of petroleum products successful Naira person exceeded the worth of Naira-denominated crude we person received. As a result, we indispensable temporarily set our income currency to align with our crude procurement currency."

Industry analysts said that the suspension has prompted backstage depot owners to summation prices, citing the request to maximise nett margins amidst fluctuating marketplace conditions.

This improvement has imaginable implications for transport costs and user goods pricing nationwide.

There are expectations that Dangote Refinery volition resume naira-based sales, contingent connected securing crude lipid supplies from NNPC.

Until then, Nigerians whitethorn look continued unit from accrued fuel costs at filling stations crossed the country.

FG docket gathering aft Dangote ends petrol income successful naira

Ealier, Legit.ng reported that the national authorities precocious held a gathering to research viable solutions to the challenges of supplying products to the Dangote refinery.

The committee has mandated the Nigerian Upstream Petroleum Regulatory Commission (NMPDRA) to travel up with options that the sheet would reappraisal arsenic it struggled to revive the naira-for-crude deal.

Sources acquainted with the substance property the situation of NNPC's proviso of crude lipid to the Dangote Refinery to the allocation of crude volumes to overseas creditors.

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Source: Legit.ng