Petrol Price Soars to ₦950 per Litre at MRS Stations as Dangote Refinery Raises Supply Cost

Petrol price has soarred to ₦950 per litre at MRS stations as Dangote Refinery raises supply cost.

 

NewsOnline Nigeria reports that the retail price of Premium Motor Spirit (PMS), popularly known as petrol, has surged to ₦950 per litre at MRS filling stations in Abuja, marking another sharp rise in fuel prices despite the operational capacity of the 650,000-barrel-per-day Dangote Refinery.

Checks by NewsOnline Nigeria on Wednesday revealed that MRS stations in Kubwa and along the Lugbe Expressway both owned by Aliko Dangote’s half-brother, Sayyu Dantata had raised their pump price from ₦851 on Tuesday, October 14, to ₦950 per litre.

Other retail outlets affiliated with the Dangote Refinery, including Ardova and Optima, have also adjusted their prices upward in response to rising wholesale costs.

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A manager at one of the Abuja outlets, who spoke under anonymity, confirmed that the increase was a direct result of a recent price adjustment from the refinery.

“The refinery’s wholesale price to marketers has gone up in the last two days due to supply shortages. We had no choice — ₦950 per litre is only slightly above what we’re getting from Dangote now. The same situation applies in Lagos and other states,” the source disclosed.

The Dangote Refinery has yet to issue an official statement on the development, which contradicts its earlier promise to reduce pump prices nationwide through improved local refining and a direct fuel distribution system.

Industry experts told DAILY POST that the refinery temporarily halted petrol loading at its gantries in recent days, allegedly prioritizing its last-mile distribution scheme amid a reported production shortfall.

The latest price surge comes shortly after the Nigerian National Petroleum Company Limited (NNPCL) renewed its “Naira for Crude” deal with Dangote Refinery, an agreement meant to stabilize local fuel supply.

Just two days earlier, NNPCL and other major marketers had also increased pump prices to around ₦955 per litre in Abuja and surrounding areas, citing supply disruptions from the refinery.

As of midweek, depot owners, including Ranoil, Matrix, AA Rano, and AYM Shafa, had raised their ex-depot prices to between ₦885 and ₦897 per litre in Lagos and Warri.

Consequently, petrol now sells across Nigeria for between ₦950 and ₦990 per litre, depending on the city and station, a trend that continues to deepen the country’s cost-of-living crisis.