MRS Oil Plc has cut the price of Automotive Gas Oil, also known as diesel, to N1,050 per litre at all of its outlets nationwide.
This information was revealed in a flyer released by the oil company, which is currently trending online.
The decrease in price, from as high as N1,700 in some gas stations last month, is a response to Dangote Petroleum Refinery's recent decision to further reduce the price of diesel.
In the flyer, the company's management encourages the public to report any of its outlets selling the product at a higher price than the specified amount.
“We are now selling AGO at all MRS retail outlets in Nigeria at N1050 per litre.
“Any station not selling at this price, please report to customer service or whistleblower,” the message read.
Dangote reduces prices
On Tuesday, Dangote Petroleum Refinery announced a further decrease in the prices of diesel and aviation fuel to N940/litre and N980/litre, respectively.
The PUNCH reported on April 17 that Dangote refinery responded to the requests of oil marketers to reduce the diesel price, lowering it from N1,200/litre to N1,000/litre.
On Tuesday, the refinery declared another price reduction for AGO, but this change only applies to dealers purchasing five million litres of diesel or more.
“The price change to N940 is for customers buying five million litres and above from the refinery, while the price of N970 is for customers purchasing one million litres and above,” the company's spokesperson, Anthony Chiejina, stated in a released statement.
He clarified that the new price is in line with the company’s commitment to ease the impact of the economic challenges in Nigeria.
“Dangote Petroleum Refinery has formed a strategic partnership with MRS oil and gas stations to ensure that consumers can purchase fuel at affordable prices in all their stations, whether in Lagos or Maiduguri.
“You can buy as low as one litre of diesel at N1,050 and aviation fuel at N980 at all major airports where MRS operates,” Chiejina stated.
He also mentioned that the partnership would be expanded to other major oil marketers.
“The purpose of this is to prevent retail buyers from purchasing at excessively high prices. The Dangote Group is dedicated to ensuring that Nigerians have better welfare, and as a result, we are pleased to announce these new prices.
“We hope that this will significantly alleviate the impact of economic challenges in the country,” the refinery's spokesperson stated.
The management of Dangote Petroleum Refinery revealed a decrease in the diesel price from N1200 to N1,000/litre less than two weeks ago.
Tuesday’s price reduction marked the third major diesel price drop in less than three weeks. The product was selling for N1,700/litre about a month ago but was reduced to N1,200/litre by Dangote Refinery.
The facility also implemented a further reduction in the cost of AGO to N1,000/litre before the latest cut to N940/litre. The price for aviation fuel from the plant is now N980/litre.
President Bola Tinubu also praised the refinery for the early price reduction, calling it a business achievement.
