MRS Slashes Diesel Price After Dangote Price Crash (See Latest Price)

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MRS Oil Plc has reduced the price of Automotive Gas Oil (AGO), commonly known as diesel, to ₦1,050 per litre across its outlets nationwide.

Naijaonpoint reports that this announcement follows a recent price reduction by the Dangote Petroleum Refinery, signalling a potential trend in the oil marketing sector.

The oil firm revealed this change in a flier that has gone viral online, urging the public to report any MRS outlets failing to comply with the new price.

The flier stated, “We are now selling AGO at all MRS retail outlets in Nigeria at ₦1,050 per litre. If you see a station not selling at this price, please report it to customer service or a whistleblower.”

This price cut is a response to Dangote Petroleum Refinery’s decision to lower diesel prices, which on Tuesday announced a further reduction to ₦940 per litre for bulk buyers.

Dangote Refinery’s aggressive pricing strategy has been instrumental in driving down prices across the market. On April 17, the refinery slashed prices from ₦1,200/litre to ₦1,000/litre and now to ₦940/litre.

A spokesperson for Dangote Refinery, Anthony Chiejina, explained that the price adjustment was part of a strategic partnership with MRS Oil to extend the benefits of reduced diesel prices to consumers nationwide.

“I can confirm to you that Dangote Petroleum Refinery has entered a strategic partnership with MRS oil and gas stations to ensure that consumers get to buy fuel at affordable prices in all their stations, be it Lagos or Maiduguri,” Chiejina stated.

He further mentioned that this partnership aims to prevent retail buyers from facing exorbitant prices and is part of a broader initiative by the Dangote Group to alleviate the economic hardships faced by Nigerians.

“The essence of this is to ensure that retail buyers do not buy at exorbitant prices. The Dangote Group is committed to ensuring that Nigerians have better welfare, and as such, we are happy to announce these new prices,” he added.

The initiative marks a significant shift in Nigeria’s fuel pricing strategy, reflecting a concerted effort by major industry players to make essential commodities more accessible to the public amidst ongoing economic challenges.

President Bola Tinubu has lauded the Dangote Refinery’s initial price reductions, describing them as an enterprising feat that reflects the industry’s commitment to supporting the nation’s economy.

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