Petrol rises to N1,409 at MRS, N1,410 at Ranoil, AA Rano in Abuja

Motorists in parts of Abuja are facing another increase in petrol prices after MRS and other filling stations adjusted their pump prices over the weekend.

A market survey showed that MRS outlets in parts of the Federal Capital Territory increased the price of Premium Motor Spirit, commonly known as petrol, from N1,370 to N1,409 per litre, representing a N39 increase.

The new price was reported at MRS stations in areas including Kubwa, Katampe and Gwarimpa.

Ranoil and AA Rano also raised their prices from N1,400 to N1,410 per litre, an increase of N10.

Increase comes amid temporary NNPC discount

The price adjustments come days after NNPC Limited extended its temporary N66-per-litre customer discount at NNPC Retail stations until October 31.

NNPC introduced the discount on October 1 as part of Nigeria’s 66th Independence anniversary and later extended the initiative as government sought to provide some relief from elevated fuel costs.

NNPC has stressed that the scheme does not represent a return to petrol subsidy and does not establish a uniform national pump price.

The company said market-based pricing for petroleum products remains in effect, meaning prices can vary between stations and locations.

Petroleum marketers have also called for government-backed relief measures to be extended beyond NNPC outlets.

No official reason given for latest increases

The reports reviewed did not quote MRS, Ranoil or AA Rano as giving a specific reason for their latest price adjustments.

The increases come against a backdrop of higher international crude-oil and refined-product prices and recent volatility in Nigeria’s downstream petroleum market.

The development also follows ongoing debates over petrol imports, domestic refining and pricing as the Dangote Refinery and imported products compete for market share.