MRS Filling Stations, backed by Dangote Refinery, have reduced the pump price of Premium Motor Spirit (PMS), popularly known as petrol, across Abuja and surrounding areas.
A market survey conducted on Friday revealed that the retail outlet lowered its petrol price from N1,317 per litre to N1,241 per litre, representing a reduction of N76 or 5.77 percent.
The latest adjustment comes just three days after Dangote Refinery announced a N75 per litre reduction in its petrol gantry price, a move attributed to the decline in global crude oil prices to below $80 per barrel.
Despite the downward review by Dangote Refinery and the corresponding price cut by MRS, several major fuel marketers in the Federal Capital Territory have yet to adjust their pump prices. These include the Nigerian National Petroleum Company Limited (NNPC), Ranoil, AA Rano, Empire Energy and other retail outlets.
The reluctance of many marketers to reduce fuel prices has continued to generate criticism from consumers, particularly as crude oil prices trend lower and supply costs decline.
The development is expected to intensify pressure on other petroleum retailers to review their pricing structure in line with current market realities and provide relief to motorists grappling with high transportation and living costs.
