The price of its pump has finally been reduced by the Nigerian National Petroleum Company Limited (NNPCL) to sell below competitors
NNPC’s amount is currently N10 less than the N935 that MRS Filling Stations are selling after the Oil and Gas’s partnership with Dangote Refinery
The uniform arrangement and drop in the fuel ex-depot price at Dangote Refinery necessitated the new pricing
Legit.ng journalist Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.
The Nigerian National Petroleum Company Limited (NNPCL) has finally lowered the price of its pump after the ex-depot price of petrol dropped.
The Daily Trust reported that the NNPCL retail stations in Lagos now charge N925 per liter. The amount is N10 less than the N935 that MRS Filling Stations are selling as a result of MRS Oil and Gas’s collaboration with Dangote Refinery.
Over the weekend, Dangote Refinery announced a statewide price reduction to N935 per litre.
In light of Dangote Refinery’s new agreement, the Independent Petroleum Marketers Association of Nigeria (IPMAN) predicted that petrol prices would drop to N935 per litre by Monday.
According to IPMAN, the new pricing was required because of the uniform arrangement and decrease in the fuel ex-depot price at Dangote Refinery, which would allow marketers to sell at N935 in their stores across the country.
Nevertheless, the investigation showed that some gas stations continue to charge more than N1000 per litre. Based on the random checks, NNPC sells at N925; MRS sells at N935; Bovas N985; AP N985; Mobil 1,015; Conoil sells at N1,065.
MRS has raised the price of petrol to N935 per liter at all of its retail service stations across the country.
This comes after Aliko Dangote, president of Dangote Industries Limited, said that the Dangote Petroleum Refinery has partnered with MRS Oil and Gas to sell gasoline at retail locations for N935 per liter following a drop in the ex-depot price from N970 to N899.50 per liter.
