Fuel Price climbs to over N920 in Lagos as MRS hikes price amid global fuel crisis

 

MRS Oil Nigeria Plc, a major distributor of Dangote Refinery’s fuel products, has increased the pump price of Premium Motor Spirit (PMS) to N925 per litre in Lagos and N955 in the Southeast.

The price adjustment, which took effect on Saturday, June 21, 2025, comes as global crude oil prices climb due to heightened tensions between Israel and Iran in the Middle East.

The company announced the new prices via its official X (formerly Twitter) account, advising customers to check updated rates at MRS stations nationwide. Though no detailed explanation was given, the increase follows Dangote Refinery’s move on Friday to raise its ex-depot price from N825 to N880 per liter.

Analysts attribute the hike to rising geopolitical risks in oil-producing regions, which continue to impact fuel costs globally.

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