Nigerians are bracing for another round of fuel price increases as MRS Oil Nigeria Plc announced a nationwide hike in the pump price of Premium Motor Spirit (PMS), commonly known as petrol. The development follows a corresponding increase in the ex-depot price by Dangote Refinery, signalling yet another upward adjustment in Nigeria’s fuel pricing landscape.
TJ News Nigeria gathered that effective from Saturday, June 21, 2025, the new pump price for petrol in Lagos now stands at ₦925 per litre, marking a sharp rise from ₦885 just 24 hours earlier.
Breakdown of MRS New Petrol Prices by Region
According to an official statement released via MRS’ X handle (formerly Twitter), petrol prices across various Nigerian regions will now be as follows:
- Southeast: ₦955 per litre
- Northeast: ₦955 per litre
- Northwest & North Central: ₦945 per litre
- Southwest (Ogun, Oyo, Ondo, Osun, Ekiti): ₦935 per litre
- Lagos: ₦925 per litre
The oil marketer advised its customers to take note of these “updated pump prices across all MRS stations nationwide.”
Why the Sudden Increase?
TJ News Nigeria learnt that the price adjustment by MRS was triggered by Dangote Refinery’s decision to raise its ex-depot petrol price from ₦825 to ₦880 per litre on Friday. MRS is one of the major distributors of Dangote’s products, making the adjustment inevitable for its network of retail outlets.
It is expected that other major distributors—such as Heyden Petroleum and AP (African Petroleum)—will follow suit in the coming days.
Further compounding the situation, independent fuel importers had already increased their pump prices earlier in the week due to fluctuations in international crude oil prices.
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Industry Reactions and Public Concerns
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has strongly criticised the upward revision. Speaking on Monday, PENGASSAN President Festus Osifo accused petroleum marketers of “exploiting Nigerians” through inflated pricing strategies. According to Osifo, the true retail price of petrol should currently range between ₦700 and ₦750 per litre, given the prevailing international crude oil market conditions.
“There is no justification for these exorbitant pump prices,” Osifo asserted, calling on regulatory agencies to step in to address disparities between falling global crude oil prices and Nigeria’s stubbornly high retail PMS prices.
Implications for Nigerians
- Increased Transportation Costs: With petrol prices surging above ₦950 per litre in some regions, public transport fares and logistics costs are expected to rise sharply.
- Regional Disparities: Nigerians in the Southeast and Northeast will bear the heaviest burden, paying ₦955 per litre, while residents of Lagos benefit slightly from proximity to supply depots.
- Economic Impact: The persistent hikes in petrol prices are expected to worsen inflationary pressures, especially on food and essential goods that rely on fuel-powered transportation.
What’s Next?
With Dangote Refinery’s ex-depot prices setting the pace for other marketers, analysts believe this upward trend may continue unless the Federal Government intervenes with clearer regulatory frameworks or subsidies.
Meanwhile, industry watchers are keenly observing whether other marketers under the Dangote supply chain—including Heyden and AP—will announce similar pump price hikes in the coming week.
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Stay with TJ News Nigeria for continuous updates on this developing story.
