ABUJA — MRS Oil Nigeria filling stations and several Nigerian depot owners have reduced the price of Premium Motor Spirit (PMS), popularly known as petrol, following a cut in ex-depot rates linked to supplies from the Dangote Petroleum Refinery and a broader decline in international crude oil prices.
An MRS filling station manager in Abuja, who spoke on condition of anonymity, confirmed to reporters on Thursday, November 12, 2026, that the company’s retail pump price had been adjusted downward to ₦1,399 per litre from ₦1,408 per litre. The move represents a reduction of ₦9 per litre.
The adjustment at MRS outlets, which source products linked to the Dangote Refinery, came after depot owners and marketers receiving petroleum products from the refinery lowered their ex-depot prices to ₦1,215 per litre from levels as high as ₦1,290. The new depot rate matches the price set by the Dangote Refinery.
Depot owners sell petroleum products to marketers at ex-depot (or gantry) rates. Retail pump prices are then determined after adding transportation costs, marketing margins and other expenses. The alignment of depot prices with the refinery’s rate has enabled some filling stations, including MRS, to pass on modest savings to consumers.
The price reductions coincide with a decline in global crude oil benchmarks. At the time of reporting, West Texas Intermediate (WTI) was trading around $86 per barrel, while Brent crude stood at approximately $92 per barrel.
The development follows recent calls by the Federal Competition and Consumer Protection Commission (FCCPC) for refiners, marketers and depot owners to consider reducing fuel prices in line with falling international crude costs and imported petrol prices. The FCCPC had warned that there was no justification for keeping domestic petrol and diesel prices relatively high if the decline in crude oil prices was sustained, and urged that any savings be passed on to consumers without undue delay.
Earlier reports indicated that imported petrol prices had also eased, raising expectations of further downward adjustments at the retail level. Nigerian National Petroleum Company Limited (NNPCL) filling stations were reported to be dispensing petrol at ₦1,325 per litre in some locations.
Industry observers note that while the latest cuts offer limited immediate relief to motorists, sustained competition among suppliers—driven in part by Dangote Refinery’s pricing—and continued declines in global oil prices could lead to additional reductions in the coming days or weeks. Pump prices still vary significantly across locations and operators, with rates in many parts of the country remaining above ₦1,300 per litre.
The downstream petroleum sector continues to experience pricing volatility influenced by international crude markets, exchange rates, logistics costs and domestic supply dynamics.
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