Price of Petrol Across Regions In Nigeria Emerge As MRS, Other Stations Raise Rates MRS Filling Station has declared a new pricing structure, enhancing its pump price for petrol to N930 per litre in Lagos and N960 for residents in northern Nigeria
The price hike, which took effect on March 28, 2025, pursues the recent suspension of the sale of petroleum products in naira by the Dangote refinery.
This represents an increase of N70 from the previous price of N860 per litre in Lagos, N870 per litre in other South-West states, and a N80 augment from the N880 per litre previously billed in the northern regions.
The price hike at MRS stations has sparked concerns of a ripple effect, with other filling stations reportedly following suit.
For instance, NIPCO, a key player in the market, sold at N930 per litre in Magboro, Ogun State, on Saturday, echoing the new pricing trend set by MRS.
The updated pricing list from MRS Oil & Gas disclosed that petrol prices now diverge by region. Lagos retains the lowest price at N930 per litre, while the South-West and Kwara regions will see petrol sold for N940 per litre.
The South-South and South-East regions—including states like Edo, Abia, Akwa Ibom, Bayelsa, Rivers, Cross River, and Enugu—will now pay N960 per litre.
In the northern states, there is a mixed pricing structure: Abuja, Kaduna, Benue, Kogi, Niger, Sokoto, Kebbi, and Nasarawa will pay N950 per litre, while other northern states like Zamfara, Kano, Jos, Bauchi, Taraba, Adamawa, Borno, Katsina, Jigawa, Gombe, and Yobe will see prices at N960 per litre.
Fluctuating FCA Prices Reflect Regional Differences
The Free Carrier Agreement (FCA) price, which quantifies how much marketers pay for petrol before selling it at retail stations, furthermore swerves by region. Lagos has the lowest FCA price at N905 per litre, while northern states such as Borno, Taraba, Adamawa, and Yobe experience FCA prices closer to N888 per litre.
Despite the price hikes, incommensurable marketers remain to face opposes, supremely with alien reciprocate rates and increasing diffusion expenses.
These factors have led to fuel shortages in a few regions, exalting the difficulties consumers face in obtaining petrol.
The surge in petrol prices is linked to the recent suspension of the naira-for-crude conformity between the Dangote refinery and the Nigerian National Petroleum Corporation Limited (NNPCL).
This suspension was caused by a mismatch between the volume of crude allocated to alien creditors and the self-existent sales, making it difficult for the Dangote refinery to maintain the deal.
Insiders who spoke with Punch noted that the NNPCL had to allocate enormous volumes of crude to alien creditors to settle loans, which impacted the stability of the naira-for-crude initiative. As a result, private depot owners have seized the opportunity to hike their prices, contributing to the overall rise in fuel prices.
The increase in petrol prices is expected to lead to higher transport costs, which will likely drive up the prices of goods and services across the country. This could further strengthen the already high cost of living for many Nigerians.
Industry experts have expressed hope that petrol prices could stabilise once the Dangote refinery commences selling fuel in naira after securing crude oil from the NNPC.
Category: World-News
Tag: Price of Petrol Across Regions In Nigeria Emerge As MRS Other Stations Raise Rates
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Published 3/30/2025