MRS Oil Plc Slashes Diesel Price to N1,050 Amidst Industry Competition

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MRS Oil Plc has implemented a significant reduction in the price of Automotive Gas Oil (diesel), now offering it at a rate of N1,050 per liter across its various outlets nationwide. This substantial price adjustment, as communicated through a widely circulated flier, represents a notable drop from previous rates, which had soared as high as N1,700 per liter in select filling stations just last month. The decision to lower prices was reportedly prompted by the recent move by Dangote Petroleum Refinery to further reduce diesel prices.

In the flier, the management of MRS Oil Plc emphasized their commitment to offering diesel at the revised rate and urged the public to report any outlets found selling the product above the stipulated price. This move aligns with the broader trend in the industry, spurred by Dangote Petroleum Refinery’s recent initiatives to lower the cost of diesel and aviation fuel.

Dangote Petroleum Refinery, in its latest announcement, revealed a further reduction in diesel prices to N940 per liter, along with adjustments in aviation fuel prices. This follows a series of price reductions, including a recent drop from N1,200 to N1,000 per liter, reflecting the refinery’s dedication to mitigating the economic challenges faced by consumers. The partnership between Dangote Petroleum Refinery and MRS Oil and Gas Stations aims to ensure accessibility to affordable fuel prices across various regions in Nigeria.

The spokesperson for Dangote Petroleum Refinery emphasized the strategic collaboration with MRS and highlighted plans to extend similar partnerships to other major oil marketers. This concerted effort seeks to prevent the sale of fuel at inflated prices and contributes to alleviating the economic hardships experienced by Nigerians. The successive reductions in diesel prices, including the latest slash to N940 per liter, demonstrate a commitment to enhancing consumer welfare and addressing economic challenges in the country.

The commendation from President Bola Tinubu underscores the significance of these price adjustments, recognizing them as pivotal steps towards fostering a more enterprising and consumer-friendly fuel industry.

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