By Onyeanya Ebere Immaculata
MRS Oil Nigeria Plc has increased the pump price of Premium Motor Spirit (PMS), to N925 per litre in Lagos, up from N885. In the Southeast, the price has surged to N955 per litre.
The hike follows Friday’s upward adjustment of the ex-depot price by Dangote Refinery from N825 to N880 per litre, triggering a ripple effect across retail outlets supplied by the refinery.
In a post on its official X (formerly Twitter) handle on Saturday, MRS announced updated pump prices for all its stations nationwide, effective from June 21, 2025.
According to the update, customers in Ogun, Oyo, Ondo, Osun and Ekiti states will now pay N935 per litre, while those in the North East will pay N955.
In the North West and North Central regions, the price stands at N945.
MRS is one of the key distributors of refined products from Dangote Refinery. Industry sources expect other partners such as Heyden and AP to follow suit with similar increases.
The PUNCH reports that the price adjustment may also be linked to a general rise in crude oil prices, which recently prompted fuel importers to raise their landing costs.
However, concerns have been raised over the growing disparity between international crude prices and domestic fuel prices.
On Monday, President of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), Festus Osifo, criticised oil marketers for what he described as price manipulation.
He argued that Nigerians were being made to pay more than necessary and insisted that the current price of petrol should range between N700 and N750 per litre, considering recent trends in the global oil market.
