MRS and other filling stations across Nigeria have raised the pump prices of Premium Motor Spirit, commonly known as petrol.
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A market survey conducted on Sunday showed that petrol prices at filling stations in Abuja and surrounding areas had increased from N1,370 to N1,409 per litre.
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The adjustment means that MRS outlets raised their prices by N39 per litre over the weekend. The new rate has been introduced at stations in Kubwa, Katampe, Gwarimpa and other parts of the Federal Capital Territory.
Meanwhile, Ranoil and AA Rano also increased their petrol prices by N10 per litre, moving from N1,400 to N1,410.
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The latest increases come amid a proposal by the Federal Government to reduce petrol prices to N1,350 per litre at Nigerian National Petroleum Company Limited filling stations. The proposal was announced by the Minister of Finance, Taiwo Oyedele.
However, fuel retailers and marketers have called on the Federal Government to extend the proposed price reduction to other filling stations instead of restricting the initiative to NNPCL outlets.
The development follows a period of declining petrol prices during the previous week, raising fresh concerns over the direction of retail fuel prices in the country.
Meanwhile, international crude oil prices remained elevated, with Brent crude trading at about $104 per barrel and West Texas Intermediate crude selling at approximately $91 per barrel.
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