Retail prices of Premium Motor Spirit (PMS) at MRS filling stations, backed by Aliko Dangote’s Dangote Refinery, have surged, with Abuja outlets now selling petrol at N875 per liter, up from N839 per liter.
A manager at an Abuja MRS station, speaking on condition of anonymity, confirmed the N36 per liter increase to BrandIconImage on Friday. The stations are owned by Sayyu Idris Dantata, Aliko Dangote’s half-brother.
The retail hike comes despite the refinery recently lowering its petrol gantry price by N25 per liter, from N799 to N744, in an attempt to make locally refined fuel more competitive against imported petrol. Analysts note that the gantry price cut has yet to reflect at the retail level.
The new pricing at MRS now aligns more closely with other major outlets, including Nigerian National Petroleum Company Limited stations. As of Friday night, petrol prices across Abuja and neighboring areas range from N875 to N889 per liter.
BrandIconImage reports that the 650,000-barrel-per-day Dangote Refinery, which recently ramped up to full capacity, had announced the gantry price reduction three days ago as part of its strategy to promote local fuel over imports. The latest retail adjustment, however, has effectively neutralized the intended price advantage for consumers.