Petrol prices yesterday crashed for the first time post-deregulation era. The crash can be attributed to a reduction in ex-depot price of the product announced by the Dangote Refinery from N970 to N899.50 per litre from its 650,000 barrels per day refinery located in Lagos.
The Nigerian National Petroleum Company (NNPC) Limited, also announced a price slash on its petrol ex-depot price from N1,020 to N899 per litre.
But determined to ensure the price cut trickles down to motorists, the President of Dangote Industries Limited, Aliko Dangote, revealed a partnership between its refinery and MRS Oil and Gas to offer petrol at N935 per litre at retail outlets.
Following the partnership, MRS Oil Nigeria Plc, yesterday began the implementation of the new price across all its retail outlets in the country.
To ensure compliance, the MRS said it has set up a digital platform and monitoring team to ensure full compliance, appealing to Nigerians to report any of its outlets that fail to adhere to the new price structure.
“Petrol is now being sold at N935 at MRS Filling Stations nationwide. If you find any station not following this price, please report it,” the company stated in a statement.
