MRS Petrol Price Rises by N85 as Dangote Refinery Raises Gantry Price

The MRS petrol price has risen again after the filling station operator increased its pump price from N1,310 to N1,395 per litre in Abuja and surrounding areas.

A market survey on Saturday showed that MRS increased the price by N85 per litre.

The latest increase follows a similar adjustment by Dangote Refinery. The refinery raised its petrol gantry price from N1,265 to N1,350 per litre on Friday.

The N85 increase represents a fresh rise in the cost of petrol supplied to marketers. As a result, motorists now face higher prices at MRS stations.

The development comes as crude oil prices climbed above $100 per barrel. Higher crude prices can increase production and supply costs across the petroleum value chain.

For motorists, however, the immediate effect is clear. They will need more money to buy the same quantity of petrol.

The latest MRS petrol price adjustment also highlights how changes at refineries can quickly affect pump prices across the downstream petroleum market.

Meanwhile, consumers and transport operators will be watching other filling stations closely. Further adjustments could affect transport fares, logistics costs and household expenses.

The increase also comes amid continuing changes in Nigeria’s deregulated petrol market. Under the current system, marketers can adjust pump prices based on factors such as supply costs, crude oil prices and market conditions.

Therefore, the latest increase could have wider economic effects if petrol prices continue to rise.

For many Nigerians, the key concern remains how higher fuel costs will affect daily transportation and the prices of goods and services.

The MRS petrol price now stands at N1,395 per litre in Abuja and its environs, according to the market survey.