Petrol prices ease as MRS cuts pump price to ₦1,399 and depots lower rates

Motorists may see some relief at the pump as petrol prices begin to fall.
The cuts
A manager at an MRS filling station in Abuja told reporters on Thursday, 12 November 2026, that the company had reduced its pump price from ₦1,408 to ₦1,399 per litre, a cut of ₦9. It is not yet clear whether the new price applies across the company's whole network. Some depot owners who buy from Dangote Refinery have also reportedly lowered their wholesale prices from as high as ₦1,290 to ₦1,215 per litre.
Why prices are falling
The reductions follow a fall in global crude oil prices, which recently dropped to their lowest level since August, and Dangote Refinery's switch to a pricing system linked to international petrol prices, which reportedly cut its loading price to ₦1,250 per litre.
Background
MRS is a major retail partner of Dangote Refinery. The industry regulator has also given the refinery and marketers a deadline of 9 December to comply with a new pricing framework. Meanwhile, cooking gas prices have risen sharply in some states.
- MRS cut its Abuja pump price to ₦1,399.
- Some depots now sell at ₦1,215 per litre.
- Lower crude prices are driving the cuts.

