Motorists in Abuja have received fresh relief as MRS Oil Nigeria Plc, one of the major marketers supplied by the Dangote Petroleum Refinery, reduced its pump price of Premium Motor Spirit (PMS), also known as petrol, by N50 per litre.
A market survey conducted on Wednesday showed that MRS filling stations in the Federal Capital Territory now sell petrol at N1,191 per litre, down from N1,241 per litre, marking the second price reduction by the marketer within two weeks.
The latest adjustment means motorists in Abuja and surrounding areas now purchase petrol at prices ranging between N1,191 and N1,300 per litre, depending on the filling station.
The reduction follows the recent decision by the Dangote Refinery to lower its ex-depot price of petrol to N1,125 per litre, a move that has begun to influence retail pump prices across parts of the country.
Despite the latest reduction by MRS, other major fuel retailers, including the Nigerian National Petroleum Company (NNPC) Limited, AA Rano, Ranoil, Nigerian Downstream Oil and Gas Company, and Empire Energy, continue to dispense petrol in Abuja at prices ranging from N1,210 to N1,300 per litre.
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The development comes less than two weeks after MRS implemented an earlier downward review of its pump price following a previous reduction in Dangote Refinery’s gantry price on June 19, 2026.
Industry stakeholders expect the latest adjustment to intensify competition in the downstream petroleum sector, with other marketers likely to review their pump prices in response to changes in ex-depot costs.
Market analysts have attributed the recent price reductions to declining international crude oil prices, which have eased production costs for refiners.
Global oil benchmarks have retreated following the de-escalation of tensions in the Middle East, with Brent crude trading around $72 per barrel and West Texas Intermediate (WTI) hovering near $69 per barrel.
The decline in crude oil prices, coupled with increased domestic refining capacity from the Dangote Refinery, has raised expectations of further reductions in petrol prices if global market conditions remain favourable.
Industry observers also note that growing competition among fuel marketers and regulatory efforts to moderate pump prices could provide additional relief for consumers in the coming weeks.