MRS hikes petrol worth to N925 in Lagos, N955 in Southeast amid international oil worth improve
MRS Oil Nigeria Plc, a key distributor of Dangote Refinery’s petroleum merchandise, has introduced a major hike within the pump worth of Premium Motor Spirit (PMS), generally often called petrol.
That is as the worldwide oil worth elevated previously week following the battle within the Center East between Israel and Iran.
The brand new pricing construction, which took impact on Saturday, June 21, 2025, raises the pump worth in Lagos from N885 to N925 per litre.
The announcement was made by way of the corporate’s official X (previously Twitter) deal with. Though no particular cause was offered for the rise, MRS urged clients to seek the advice of its “up to date pump costs throughout all MRS stations nationwide.”
The brand new pricing template
In response to the revised pricing template, petrol will now retail at:
- N955 per litre within the Southeast
- N935 per litre in Ogun, Oyo, Ondo, Osun, and Ekiti States
- N955 per litre within the Northeast
- N945 per litre within the Northwest and North Central areas
This adjustment follows the Dangote Petroleum Refinery’s determination to lift its ex-depot worth, the value at which merchandise are bought to entrepreneurs, from N825 to N880 per litre on Friday.
World Battle Drives Oil Worth Surge
Business analysts counsel that the value hike could also be linked to escalating geopolitical tensions within the Center East.
- Since June 13, Israel and Iran have been engaged in a collection of navy confrontations, sparking fears of a broader regional battle that would disrupt international oil provides.
- Over the previous week, crude oil costs elevated practically 3%, with West Texas Intermediate (WTI) and Brent crude reaching their highest ranges since January.
- The spike adopted a collection of retaliatory strikes as Israel launched airstrikes on Iranian navy and nuclear amenities, prompting Iran to reply with drone and missile assaults on Israeli infrastructure.
The state of affairs intensified additional within the early hours of Sunday, June 22, when U.S. President Donald Trump confirmed that American forces had carried out focused airstrikes on three of Iran’s key nuclear websites—Fordow, Natanz, and Isfahan.
Describing the operation as a “spectacular navy success,” President Trump said that the strikes have been carried out after diplomatic efforts to carry Iran again to the negotiating desk had failed.
Market Uncertainty Looms
With no indicators of de-escalation, international markets stay on edge.
The continued battle has develop into probably the most carefully watched developments within the power sector, with analysts warning that continued instability may result in additional will increase in gasoline costs worldwide.
What you must know
Precisely one month in the past, Dangote Petroleum Refinery decreased the pump worth of Premium Motor Spirit (petrol) all through the nation to N875 in Lagos and N905 per litre in different areas of the nation.
- Earlier than that improve, Lagos residents paid N890 per litre, whereas costs rose to N920 within the North East and South-South areas on the time.
- The Dangote Refinery, with a capability of 650,000 barrels per day, is Africa’s largest and most important infrastructure funding in Nigeria’s oil sector. By refining domestically and progressively changing imports, the ability has the power to stabilise gasoline provide, relieve foreign exchange strain, and slash gasoline prices for Nigerian shoppers over time.
