BREAKING: MRS, other Nigerian filling stations increase petrol pump price

MRS, a refiner-backed Nigerian fuel distributor, has joined several other filling stations in raising the price of petrol at their pumps. According to a recent market survey by DAILY POST, MRS increased the price of Premium Motor Spirit (PMS) or petrol to N1,409 per litre in Abuja and surrounding areas, a rise of N39 per litre since last weekend. This new price has been applied at MRS outlets in neighborhoods such as Kubwa, Katampe, and Gwarimpa.

Similarly, Ranoil and AA Rano, two other filling station chains, raised their petrol prices by N10 per litre, now selling at N1,410 per litre instead of N1,400. This price increase was implemented across their nationwide network of outlets.

The Federal Government, led by Finance Minister Taiwo Oyedele, had proposed a discount in petrol prices to N1,350 per litre at National Petroleum Company Limited (NNPCL) filling stations. However, fuel retailers and marketers have called on the government to extend this initiative to all filling stations across the country.

Meanwhile, the prices of Brent crude and West Texas Intermediate (WTI) crude oil have remained relatively stable, with the former trading at $104 per barrel and the latter at $91 per barrel.