MRS filling stations have reduced the pump price of Premium Motor Spirit by N50 per litre, bringing the cost of the product in Abuja to N1,191 per litre.
The adjustment, which took effect on Wednesday, represents the marketer's second downward price review within two weeks, with the previous price of N1,241 per litre now reduced to N1,191.
A check of filling stations in the Federal Capital Territory showed that while MRS outlets had adopted the new price, several other marketers continued to dispense petrol at rates ranging from N1,210 to N1,300 per litre.
Among marketers yet to effect a similar reduction are the Nigerian National Petroleum Company Limited, AA Rano, Ranoil, Nigerian Downstream Oil and Gas Company and Empire Energy.
The latest review comes days after Dangote Refinery reduced its ex-depot price of petrol to N1,125 per litre, a development that has continued to shape pricing decisions in the downstream petroleum market.
MRS had earlier adjusted its pump price on June 19 following an earlier downward review of Dangote Refinery's gantry price.
Industry observers attribute the latest price reductions to growing competition among fuel marketers and the recent decline in global crude oil prices.
Brent crude and West Texas Intermediate have traded at between $69 and $72 per barrel in recent days, following reduced tensions in the Middle East, raising expectations of further adjustments in domestic petrol prices if the trend persists.
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