BREAKING: Good news for Nigerians as fuel retail price drops nationwide

MRS Oil Nigeria Plc has announced a reduction in the retail price of Premium Motor Spirit (PMS), commonly known as petrol, across its stations nationwide.

The oil marketing firm disclosed on Monday, February 10, through its official X (formerly Twitter) account, that its stations in Lagos will now sell petrol at ₦925 per litre.

The move follows a similar price adjustment by its partner, Dangote Refinery, which recently lowered the ex-depot price to ₦890 per litre.

Beyond Lagos, MRS outlined region-specific pricing, with petrol selling at ₦935 per litre in the South West, ₦945 in the North, and ₦955 in the East.

The company assured consumers that the reduction would not compromise fuel quality.

“The prices may vary, but one thing stays the same—we give you high-quality fuel that keeps your engine running at its best,” the statement read.

MRS also urged customers to remain vigilant and report any stations selling above the new price.

“We are just a call or email away. If you notice any discrepancies, let us know,” the company added.

The price cut is expected to relieve motorists and businesses struggling with high fuel costs.

However, industry analysts say sustained reductions will depend on global crude prices and domestic refining capacity.