Motorists in the Federal Capital Territory may begin to enjoy lower fuel costs as MRS filling stations have reduced the retail price of Premium Motor Spirit, popularly known as petrol, by N76 per litre.
A check across some MRS outlets in Abuja on Friday showed that the product now sells for N1,241 per litre, down from the previous price of N1,317.
The latest adjustment came days after Dangote Refinery announced a reduction in its petrol loading price, cutting the ex-depot rate by N75 per litre amid a decline in international crude oil prices.
The refinery's decision followed a drop in global oil benchmarks below $80 per barrel, raising expectations among consumers that retail fuel prices would also fall.
Despite the development, several filling stations in the nation's capital had yet to review their pump prices as of Friday. Major marketers, including the Nigerian National Petroleum Company Limited, AA Rano, Ranoil and Empire Energy, continued to dispense petrol at their previous rates.
The delay has generated dissatisfaction among consumers, many of whom argue that marketers should promptly reflect reductions in supply costs at their retail outlets.
Industry stakeholders believe the response of other fuel retailers in the coming days will determine the overall impact of the refinery's price cut on the downstream petroleum market.
The reduction by MRS is expected to heighten pressure on competing marketers to adjust their prices, potentially triggering a broader decline in petrol costs across the country.
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