MRS, Other Nigerian Filling Stations Increase Petrol Pump Prices

MRS and other filling station operators in Nigeria are facing renewed price pressure as petrol costs rise across parts of the downstream market.

A report published on October 10 showed that petrol depot prices had increased in Lagos, Port Harcourt, Warri and Calabar, although pump prices continued to vary by location and operator.

In Lagos, some depots raised their prices to between ₦1,350 and ₦1,360 per litre. In Port Harcourt, several depot operators increased petrol prices to ₦1,900 per litre, while NIPCO raised its price by ₦170 per litre.

At the retail level, NNPC stations in Lagos were selling petrol at about ₦1,360 per litre, while MRS sold at ₦1,338 per litre in the price checks reported on October 10. These figures reflect prices observed at the time and may have changed since then.

The adjustments come amid continued volatility in international oil markets. Brent crude was reported at $104.50 per barrel on Friday, adding to concerns about the cost of supplying petroleum products.

The Nigerian government has also proposed a petrol price cap of about ₦1,350 per litre to help limit sharp increases. The proposal, announced on October 8, would require refiners and importers to absorb temporary cost increases and recover them when market conditions improve. It is a proposal, not confirmation that a nationwide cap has taken effect.

Petrol prices in Nigeria remain influenced by supply costs, logistics, market conditions and individual marketers’ pricing decisions. Motorists are therefore advised to confirm prices at nearby stations before buying, as rates can differ even within the same city.