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HomeBUSINESSBREAKING: MRS raises petrol price by N85 per litre

BREAKING: MRS raises petrol price by N85 per litre

Nigerian filling station operator, MRS, has increased its pump price for Premium Motor Spirit (PMS), commonly known as petrol, by N85 per litre.

A market survey by Nigerian Newssphere on Saturday showed that MRS filling stations adjusted their petrol price to N1,395 per litre from N1,310 in Abuja and its environs.

The latest adjustment represents an N85 increase in the pump price of petrol.

The development comes a day after Dangote Refinery raised its gantry petrol price by N85 per litre, from N1,265 to N1,350, amid a surge in global crude oil prices above $100 per barrel.

MRS and other filling stations had earlier increased their petrol prices to between N1,310 and N1,350 per litre.

Following the latest adjustment by MRS, motorists in Abuja and its environs now buy petrol for between N1,345 and N1,395 per litre, depending on the filling station.

As of the time of filing this report, Brent crude was trading at about $104 per barrel, while West Texas Intermediate (WTI) stood at around $100 per barrel.

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