MRS and AA Rano Reduce Petrol Prices in Nigeria

MRS filling stations and AA Rano have cut petrol prices across Nigeria due to recent adjustments in the downstream petroleum market. A market survey conducted on Saturday revealed that MRS filling stations in Abuja decreased their petrol price from N1,305 per litre to N1,265 per litre, marking a reduction of N40 per litre.

This price cut was noted at MRS outlets in Kubwa and along the Lugbe Expressway in the Federal Capital Territory (FCT). Similarly, AA Rano filling stations reduced their petrol price by N30, lowering it from N1,330 per litre to N1,300 per litre.

These adjustments follow nearly two weeks of price increases driven by fluctuations in global crude oil prices. The changes coincide with an announcement from Dangote Refinery regarding a free petrol distribution initiative across five states, including the FCT, with petrol supplied at a gantry price of N1,215 per litre.

The current volatility in the international crude oil market sees Brent and West Texas Intermediate (WTI) crude prices trading around $84 and $87 per barrel, respectively.