In a significant move that is set to impact the fuel market across Nigeria, MRS Oil Nigeria, under the leadership of Sayyu Dantata, has announced a drastic reduction in the price of Diesel Automotive Gas Oil (AGO) at all its retail outlets nationwide. The company has taken the bold step to sell diesel at the highly competitive rate of N1,050 per litre.
This announcement comes at a pivotal moment when the cost of diesel has been a pressing concern for consumers and businesses alike. Just last month, the price of AGO had soared to as high as N1,700 per litre in certain regions, exerting significant financial strain on various sectors of the economy.
The decision by MRS Oil to lower diesel prices to N1,050 per litre reflects the company’s commitment to providing affordable and accessible fuel solutions to its customers. This move is expected to bring much-needed relief to consumers, particularly in light of recent economic challenges and fluctuations in fuel prices.
Furthermore, the reduction in diesel prices by MRS Oil follows a similar trend in the industry, with the Dangote refinery recently announcing price cuts for AGO. Initially reduced from N1,200 to N1,000 per litre, the refinery has further lowered the price to N940 per litre. These successive price reductions signal a significant shift in the dynamics of the fuel market, with companies vying to offer competitive prices to consumers.
In Kano, one of Nigeria’s major commercial hubs, the impact of these price adjustments is already evident, with diesel now priced between N1,250 and N1,350 per litre. This development is expected to stimulate economic activities in the region and alleviate the financial burden on businesses and individuals.
As consumers welcome these developments, industry observers anticipate increased competition among fuel providers, leading to further price reductions and improved service delivery. The initiatives by MRS Oil and other industry players underscore the importance of market-driven solutions in addressing the country’s energy needs and promoting economic growth.
For consumers seeking to benefit from the reduced diesel prices, MRS Oil’s retail outlets nationwide are now offering diesel at the affordable rate of N1,050 per litre. This announcement marks a significant milestone in efforts to make fuel more accessible and affordable for Nigerians across the country.
