MRS cuts petrol price by N50 per litre as NNPC reduction fuels competition
By Aboki Forex —
MRS filling stations have reduced petrol prices by N50 per litre for the second time in two weeks, bringing fresh relief to motorists in Abuja. The move follows a nationwide price cut by the Nigerian National Petroleum Company (NNPC) Limited and reflects growing competition in Nigeria's deregulated downstream market.
MRS drops price to N1,191 per litre
A market survey conducted on Wednesday by Legit.ng showed that MRS stations in Abuja are now dispensing Premium Motor Spirit (PMS) at N1,191 per litre, down from N1,241 per litre. The N50 reduction comes days after NNPC implemented a nationwide review of pump prices across its retail outlets.
NNPC reduced petrol prices in several cities including Lagos to N910 per litre from N945, Abuja to N935 per litre from N965, Kaduna to N945 per litre, Kano to N945 per litre, Port Harcourt to N925 per litre, Enugu to N945 per litre, and Maiduguri to N955 per litre.
The nationwide reductions signalled a new pricing trend in Nigeria's deregulated fuel market. Independent marketers have responded by adjusting their own pump prices. With MRS's latest adjustment, motorists in Abuja can now purchase petrol for N1,191 per litre, while prices at other filling stations in the Federal Capital Territory still range between N1,210 and N1,300 per litre.
Dangote Refinery drives competition
Industry observers attribute the latest reduction to the recent decision by Dangote Refinery to lower its ex-depot petrol price to N1,125 per litre. MRS, one of the key distributors of Dangote Refinery products, had already reduced its pump price on June 19, 2026, following an earlier cut in the refinery's gantry price. The latest adjustment marks the second reduction by the marketer within a fortnight.
Major marketers including AA Rano, Ranoil, Nigerian Downstream Oil and Gas Company, Empire Energy and several independent filling stations are yet to match MRS's latest reduction. The lower pricing is expected to attract more customers as marketers compete for market share.
Global crude prices support cuts
The recent wave of petrol price cuts has also been supported by a decline in international crude oil prices. Brent crude and West Texas Intermediate (WTI) have fallen to between $69 and $72 per barrel following easing geopolitical tensions in the Middle East. The softer global oil market has lowered the cost of refined petroleum products, creating room for marketers to reduce pump prices.
Analysts say if crude prices remain subdued and competition among marketers continues to intensify, Nigerians could see further reductions in petrol prices in the coming weeks. Some industry stakeholders have previously projected that pump prices could gradually move closer to the N1,000 per litre mark.
What this means for consumers
For Nigerian motorists and businesses, the sustained price cuts signal that the deregulated market is working. Competition between NNPC, Dangote Refinery, and independent marketers is driving prices lower. If crude oil prices stay soft and the price war continues, the naira could stretch further at the pump in the weeks ahead.