MRS Oil Nigeria Plc has reviewed its petrol (PMS) pump price across all regions, announcing new rates effective today June 21, 2025. This latest adjustment comes as downstream operators respond to rising operational costs, foreign exchange fluctuations, and changes in depot pricing trends.
According to MRS, the revision reflects region-specific logistics, security, and transport considerations that influence distribution costs across the country.
New Pump Prices Across Nigeria
The company released a breakdown of updated PMS prices by region:
- Lagos: ₦925.00
- South-West: ₦935.00
- North-East: ₦955.00
- North-West and Central: ₦945.00
- South-South and South-East: ₦955.00
What’s Driving the Price Differences?
To begin with, MRS maintains its lowest price in Lagos, where it has access to robust storage facilities and shorter supply distances. These advantages reduce logistics costs and keep retail prices relatively low in the state.
On the other hand, pump prices in the North-East and South-South regions are highest. This is largely due to longer transportation routes, higher haulage expenses, and increased security risks during fuel delivery. These regional challenges continue to drive up the final cost of petrol in those areas.
Consumer Compliance and Whistleblowing Channels
MRS has encouraged customers to report any of its filling stations that are not complying with the approved pump prices. The initiative reinforces MRS’s commitment to transparency and consumer protection under the Petroleum Industry Act (PIA).
Cleaner, Engine-Friendly Petrol
In addition to the pricing update, MRS stated that its petrol contains less sulphur, which helps improve engine performance and extends vehicle lifespan. This cleaner fuel aligns with the push for more environmentally sustainable practices within Nigeria’s downstream sector.
Industry Outlook: More Increases Possible
The pump price adjustment by MRS comes just days after Dangote Refinery raised its ex-depot rate for petrol to ₦880 per litre. With Brent crude trading around $78 per barrel and the naira hovering near ₦1,550 to the dollar, many marketers are struggling with higher import and operating costs.
Given these conditions, industry experts expect petrol prices to remain under upward pressure in the short term, particularly if foreign exchange and crude oil prices continue to climb.
MRS’s pricing review highlights the growing influence of market forces under Nigeria’s deregulated downstream system. While Lagos and parts of the South-West benefit from lower logistics costs, regions farther from coastal supply routes face higher pump prices.
As marketers adjust to global oil trends and local distribution realities, consumers should prepare for continued price fluctuations unless stabilising interventions are introduced.
For more updates on fuel prices and petroleum market trends, visit Petroleumprice.ng.