Fuel price update: NNPCL, MRS maintain same rate as crude oil prices drop

Nigerian National Petroleum Company Limited, NNPCL, and MRS filling stations’ premium motor spirit (PMS) pump prices have remained stable at N1,395 per litre despite the drop in crude oil prices.

A market survey by DAILY POST on Friday showed that fuel pump prices in Abuja and its environs across NNPCL and MRS outlets stood at N1,395 per litre.

This comes despite a drop in Dangote Refinery’s gantry petrol price by N25 per litre to N1,325 from N1,350 per litre, and a decline in Brent and West Texas Intermediate crude oil prices to $104 and $92 per barrel, respectively, at the time of reporting.

DAILY POST reports that while prices at NNPCL and MRS filling stations remained unchanged, other retail outlets reduced their petrol prices by at least N10 to remain competitive.

The development pushed retail fuel pump prices in Abuja and its environs to between N1,395 and N1,450 per litre.

Data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority’s August factsheet showed that Dangote Refinery supplied over 70 per cent of the country’s domestic fuel supply as imports plunged significantly.