MRS Oil Nigeria Plc, a key distributor of Dangote Refinery’s petroleum merchandise, has introduced a big hike within the pump value of Premium Motor Spirit (PMS), generally often known as petrol.
That is as the worldwide oil value elevated up to now week following the battle within the Center East between Israel and Iran.
The brand new pricing construction, which took impact on Saturday, June 21, 2025, raises the pump value in Lagos from N885 to N925 per litre.
The announcement was made through the corporate’s official X (previously Twitter) deal with. Though no particular motive was supplied for the rise, MRS urged prospects to seek the advice of its “up to date pump costs throughout all MRS stations nationwide.”
In response to the revised pricing template, petrol will now retail at:
This adjustment follows the Dangote Petroleum Refinery’s determination to boost its ex-depot value, the worth at which merchandise are offered to entrepreneurs, from N825 to N880 per litre on Friday.
Trade analysts recommend that the worth hike could also be linked to escalating geopolitical tensions within the Center East.
The state of affairs intensified additional within the early hours of Sunday, June 22, when U.S. President Donald Trump confirmed that American forces had carried out focused airstrikes on three of Iran’s key nuclear websites—Fordow, Natanz, and Isfahan.
Describing the operation as a “spectacular navy success,” President Trump said that the strikes had been carried out after diplomatic efforts to deliver Iran again to the negotiating desk had failed.
With no indicators of de-escalation, world markets stay on edge.
The continuing battle has turn out to be one of the crucial intently watched developments within the vitality sector, with analysts warning that continued instability may result in additional will increase in gasoline costs worldwide.
Precisely one month in the past, Dangote Petroleum Refinery lowered the pump value of Premium Motor Spirit (petrol) all through the nation to N875 in Lagos and N905 per litre in different areas of the nation.
